The two companies, that make or market sleeping bags, and that we have some experience with are Snug Pack and REI. A couple of the sleeping bags that each offer that we think meets the criteria for a lightweight, easily compressed sleeping bag are:
Softie 3 Merlin
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This is an 900 gram bag including the compresion stuff sack. Weight with bag is 2.0 lbs. Available in Red, Olive, Desert Tan, or Black color with a full length two way zipper. Rated at approximatley 35 degree F this bag compresses, in the stuff sack, to approximatley 7 x 10 inches. Made in the United Kingdom this bag is filled with a Snug Pack material called Sofite, Reflectaherm. This is bag is a excellent product, well made and in an exceptional small package making it a good item for the Survival Bug Out Bag.
Kelty Galactic +35 Sleeping Bag
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The Kelty Galatic Bag is also rated for 35 degrees Fahrenheit and weight tslightly more than the snug pack at 2.5 lbs, compressing into a 7x15 inch configuration.
One advanatge on this bag is that it can be zipped open to use as a blanket or bottom insulation on for two people. It is filled with down, an excellent insulation. This is also a first class product from reputable REI,....well known in the adventure world.
The Urban Survivor would be well equipped with either sleeping bag prepacked into his/her Survival Bug Out Bag.