4311 N Harlem Ave - Freestanding FOR SALE
Norridge, IL 60706 |
4311 N Harlem Ave
Norridge, IL 60706
HIGHLIGHTS
- Recently extended, long-term net leased Mattress Firm asset with built in rent increases and minimal landlord responsibilities
- Mattress Firm proactively extended their lease 4 years before the term would have expired in exchange for minor concessions
- Exceptional underlying real estate on Harlem Avenue – one of Chicago’s preeminent retail corridors
- High yield opportunity – priced at a 7.75% CAP rate, the lease features a built-in rent increase in 2027 which pushes the yield up to 8.16%
- Unparalleled visibility and exposure to over 27,000 vehicles per day – the property features over-sized channel signage that is highly visible
- Tempur Sealy is currently acquiring Mattress Firm, a highly accretive merger which will significantly improve the credit profile for Mattress Firm
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
TOTAL BUILDING SIZE
3234
STORIES
1
YEAR BUILT
1964
SPRINKLERS
-
PARKING SPACES
10
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
-
APN/PARCEL ID
13-18-308-001-0000
