357 E Townline Rd - Freestanding FOR SALE


Vernon Hills, IL 60061 | 
$3,300,800 USD
312-548-6822
357 E Townline Rd, Vernon Hills, IL for Sale
$3,300,800 USD
Freestanding - FOR SALE
1/7
null | 6.25% Cap Rate

357 E Townline Rd
Vernon Hills, IL 60061


HIGHLIGHTS

  • New 10 Year Lease Extension
  • Attractive Rent Increases
  • Minimal Management Responsibilities
  • Dynamic Tenant
  • Major Store Count Growth
  • Excellent Location

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single tenant Mattress Warehouse located at 357 East Townline Road in Vernon Hills, Illinois (the “Property”). The Property is improved by a free standing 5,000 square foot building on a 1.46-acre parcel. Mattress Warehouse has been at this location since 2015 and just extended their lease by 10-years, demonstrating their commitment to the site and market. Mattress Warehouse has 10+ years remaining on their Lease with four (4), 5-year renewal options. The lease calls for attractive 10% rent increases every five years throughout the primary lease term and at the start of the four (4) renewal options. Mattress Warehouse enjoys an exceptional, high-visibility position at 357 East Townline Road, situated directly within the premier retail corridor of Vernon Hills, Illinois. Operating as a prominent pad site to Target at the signalized intersection of Townline Road and N. Fairway Drive, the property benefits from outstanding access and exposure to more than 36,000 vehicles per day at the intersection. The asset's strategic positioning puts it seconds from Townline Commons (anchored by Walmart) and the Hawthorn Mall, a major regional mixed-use destination. This tight concentration of powerhouse national anchors creates a highly lucrative synergy of daily-needs and destination retail traffic. Backed by affluent local demographics, a robust daytime employment population, and seamless proximity to Interstate 94, the Property offers an institutional-grade location with compelling long-term investment appeal.

FOR SALE DETAILS

PRICE

$3,300,800 USD

PRICE/SF

$550 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mattress Warehouse

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.46 AC

LAND SF

63,598 SF

ZONING

B-1, Vernon Hills

APN/PARCEL ID

15-04-110-009

ASK ABOUT THIS PROPERTY

Jack CollinsHorvath & TremblayMore Info
312-548-6822

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Jack CollinsHorvath & TremblayMore Info
312-548-6822

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.