4311 N Harlem Ave | Norridge, IL 60706
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- LoopNet Team
4311 N Harlem Ave
Norridge, IL 60706
+8YR Mattress Firm | Recent Extension · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Recently extended, long-term net leased Mattress Firm asset with built in rent increases and minimal landlord responsibilities
- Exceptional underlying real estate on Harlem Avenue – one of Chicago’s preeminent retail corridors
- Unparalleled visibility and exposure to over 27,000 vehicles per day – the property features over-sized channel signage that is visible
- Mattress Firm proactively extended their lease 4 years before the term would have expired in exchange for minor concessions
- High yield opportunity – priced at a 7% CAP rate, the lease features a built-in rent increase in 2027 which pushes the yield up to 7.37%
- Tempur Sealy is currently acquiring Mattress Firm, significantly improving the credit profile and outlook for Mattress Firm
PROPERTY FACTS
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,234 SF
Building Class
C
Year Built/Renovated
1964/2015
Tenancy
Single
Building Height
1 Story
Building FAR
0.83
Lot Size
0.09 AC
Parking
10 Spaces (3.09 Spaces per 1,000 SF Leased)
Frontage
108’ on PENSACOLA AVE
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Number | 13-18-308-001-0000 | Improvements Assessment | $135,624 |
| Land Assessment | $16,668 | Total Assessment | $152,292 |
PROPERTY TAXES
Parcel Number
13-18-308-001-0000
Land Assessment
$16,668
Improvements Assessment
$135,624
Total Assessment
$152,292
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