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4311 N Harlem Ave
Norridge, IL 60706
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 highly 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 7.75% CAP rate, the lease features a built-in rent increase in 2027 which pushes the yield up to 8.16%
- Tempur Sealy is currently acquiring Mattress Firm, a highly accretive merger which will significantly improve the credit profile 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
0.82
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 | $115,850 |
| Land Assessment | $23,150 | Total Assessment | $139,000 |
Property Taxes
Parcel Number
13-18-308-001-0000
Land Assessment
$23,150
Improvements Assessment
$115,850
Total Assessment
$139,000
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