REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Fri

Dec

Sat

Dec

Sun

Dec

Michael Schatz

[email protected] +1(312) 961-4450

$ 500,000

Est. payment -/mo

Save

New

2948 N Narragansett AVE Chicago, IL 60634

4 Beds

3 Baths

3,920 Sqft Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12520410

Bedrooms 4

Year Built 1922

Annual Tax Amount $5,769

Tax Year 2024

Lot Size 3,920 Sqft

Lot Dimensions 3781

Property Sub-Type Two to Four Units

Property Description

Presenting an exceptional opportunity in Chicago's Montclare neighborhood, this fully updated two-unit residential building blends investment stability with modern, luxury living. Originally constructed in 1920, the property has undergone comprehensive renovations including newer kitchens, baths, flooring, paint, and fixtures, resulting in a low effective age of just 20 years and a well-maintained condition across its 2,837 square feet of gross building area. The first-floor main duplex unit features high-end finishes throughout, including exotic rare granite kitchen countertops, marble flooring in the kitchen, dining area, and bathroom, and marble bathroom tile with heated floors. The kitchen is fully equipped with a separate cooktop, oven, warmer, dishwasher, and garbage compactor, offering true chef-quality functionality. The lower-level space is equally upgraded with marble countertops, marble bathroom floors and walls, a luxury shower system with six body sprays, heated floors, and an overhead heat lamp for spa-level comfort. The building is optimally configured to maximize income, featuring a 6-room, 3-bedroom duplex unit and a separate 4-room, 1-bedroom garden unit, generating an estimated total Gross Monthly Market Rent of $3,100, including water and sewer. Tenant comfort is enhanced by central air conditioning, hot water baseboard heat, and a tankless water heater, along with a detached two-car garage and outdoor deck space. The neighborhood offers strong community amenities with access to multiple public and private schools, nearby parks with recreational facilities, library services, medical offices, and religious institutions. Transportation access is excellent with nearby CTA bus routes and convenient proximity to the Metra station. Additionally, this property offers a unique development upside, with the adjacent commercial site available separately, creating a combined contiguous land area of approximately 15,025 square feet with 120 feet of street frontage, ideal for future assemblage opportunities.

Location

State IL

County Cook

Area Chi - Belmont Cragin

Zoning MULTI

Rooms

Basement Finished, Full

Interior

Heating Natural Gas, Electric, Baseboard

Equipment Water Heater-Electric

Fireplace N

Exterior

Garage Spaces 2.0

Community Features Curbs, Sidewalks, Street Lights, Street Paved

Roof Type Shake

Building

Dwelling Type Two to Four Units

Building Description Brick,Frame, No

Sewer Public Sewer

Water Lake Michigan, Public

Structure Type Brick,Frame

New Construction false

Schools

Elementary Schools Beard Elementary School

Middle Schools Josephine Locke Elementary Schoo

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition List Broker Must Accompany

Listed by Cecil Sabu of ALLURE Real Estate

Michael Schatz

+1(312) 961-4450

GET MORE INFORMATION