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1137 S Mannheim Road - Mattress Firm, Westchester, IL

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1137 S Mannheim Road - Mattress Firm

just N of NEC
Westchester, IL 60154-2517 - Eastern East/West Corr Submarket

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:2015
Building Size:4,500 SF Land Area:.6 AC (26,319 SF)
For Sale Price:$1,983,333 Price/SF:$440.74
Cap Rate:6.75 %
Parking:Free Surface spaces are available; Ratio of 1.77/1,000 SF

Sale Notes:
9.5 Years Base Lease Term Remaining
Sleepy’s base lease term runs through March 30, 2026, followed by two, five-year renewal options.
New 2015 Build-to-Suit Construction
Built in 2015, the property is the result of Sleepy’s recent expansion into the Chicago area.
Dominant Industry Player Following Sleepy’s & Mattress Firm Merger
Combined Mattress Firm and Sleepy’s will operate over 3,500 stores in 48 states. The merged entity will have a 21.2% share of the specialty mattress market.
Mattress Firm Guaranteed Lease
Mattress Firm took assignment of the lease via purchasing all of Sleepy’s assets in the recent acquisition.
NNN Lease Structure
Landlord responsibilities limited to the upkeep of roof and structure. The roof is covered by a transferable 20-year warranty.
Corner Location w/ High Visibility
Located just off of the corner of S. Manhattan (42,000 VPD) and W. Roosevelt (24,900 VPD), and 0.3 miles south of I-290.
Premier Demographics
390k+ population & average HH income of $92k+ within 5 miles.
Rental Increases in Base Term and Options
10% rental increases every five years throughout the base term and at the beginning of each option period.
Dense Retail Corridor
Located 0.2 miles from Hillside Town Center, a 32 acre, mixed-use development project home to Super Target, Petco, Ross Dress for Less, Home Goods, Staples and Michaels.

Stan Johnson Company
Brandon Duff
(312) 240-0162

Bradley Feller
(312) 240-0194

Isaiah Harf
(312) 777-2437

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