Shorewood, IL 60404

Citibank Ground Lease (Mattress Firm Sublease)

Offering Summary

  • Price: $3,252,000
  • Lot Size: 1.71 Acres
  • Cap Rate: 8.0%
  • Year Built: 2007
  • Building SF: 4,800
  • Status: In Escrow
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  • Absolute Triple-Net (NNN) Ground Lease
  • 10% Rental Increases Every 5 Years
  • Value Add Opportunity - Future Landlord Has a Number of Different Avenues to Increase NOI
  • Oversized Parcel – Site May Be Split Into 2 Single-Tenant Parcels of Approximately .86 Acres Each or Be Redeveloped As-Is to Accommodate a Larger Building
  • Buyer Will Collect Rent Through 2022 - Approx. $500K in Rent Remaining to Be Paid
  • Future Landlord May Renegotiate and Extend Mattress Firm in October 2022 When Citibank Lease Expires
  • Infill Population - 150,529 Residents within a 5-Mile Radius
  • Current Seller/Landlord is Also Open to Ground Lease/Build-to-Suit Redevelopment/Backfill Opportunity - Lease Expires October 2022

Broker Information