Net Leased American Mattress Sale Date April 20, 2022
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a net leased American Mattress property located at 7570 Barrington Road in Hanover Park, Illinois for $1,500,000.
The 6,490 square foot net leased American Mattress benefits from its location along Barrington Road (34,300 VPD) which is a primary north – south thoroughfare. The property is well positioned in Westview Center Shopping Mall with retailers such as Walmart, AutoZone, Dollar Tree, Tony’s Fresh Market, DD’s Discounts (Ross Dress for Less), Chuck E Cheese, and LA Fitness. Other retailers within the shopping center include Andigo Credit Union, Ollie’s Bargain Outlet, Taco Bell, Portillo’s, and Chase Bank. The American Mattress property is also within proximity to Irving Park Road which experiences over 34,600 vehicles per day. There are 255,448 people living within five miles of the property earning an average annual income of $108,477.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both sides in the transaction. The buyer was a local individual in a 1031 exchange. The seller was a Midwest based real estate firm.
American Mattress was started in 1988 and has grown to 57 locations across Illinois, Wisconsin, and Indiana. Today, American Mattress remains a locally owned business, with a strong culture of family and community.
“American Mattress has been operating at this location since 2009 and recently extended their lease demonstrating commitment.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The property’s outparcel location in a dominant trade corridor makes this an ideal retail location.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $6 billion of single tenant net lease real estate transactions. From 2012-2021, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com