HassleLess Mattress - Naperville, IL
Retail | 7.00% CAP | 4,169 SqFt
Marketing description
Matthews is pleased to present the exclusive offering of 1044 South Route 59 in Naperville, Illinois, a single-tenant retail investment opportunity leased to HassleLess Mattress. The property consists of a ±4,169 SF freestanding building constructed in 2016 and situated on ±0.98 acres at the southeast corner of the signalized intersection of Route 59 and Ogden Avenue. The site benefits from exceptional visibility and exposure to Route 59 [±60,100 VPD] and Ogden Avenue [±26,400 VPD], two of the area’s primary commercial thoroughfares.
HassleLess Mattress recently executed a new 10-year NNN lease with approximately 9 years of firm term remaining. The tenant is directly responsible for CAM, real estate taxes, and insurance, providing investors with a passive ownership structure and minimal landlord responsibilities. Current rent is approximately $28.78 PSF, below estimated market rents of $32.00 to $33.00 PSF, providing the tenant with a sustainable occupancy cost while preserving future mark-to-market potential. The lease also includes two 5-year renewal options with 10% rent increases in each option period.
The property is located within one of the western suburbs’ premier retail destinations, surrounded by major national retailers including Walmart Supercenter, Costco, The Home Depot, Lowe’s, ALDI, Dick’s Sporting Goods, and Meijer. The immediate trade area is experiencing significant investment and redevelopment, including the continued transformation of Fox Valley Mall into a mixed-use lifestyle destination and the new $53 million Block 59 dining and entertainment district. These projects are adding new residential density, restaurants, entertainment, and public gathering spaces, further strengthening the long-term fundamentals of the Route 59 corridor.
Located approximately 30 miles west of downtown Chicago, Naperville is one of the Chicago MSA’s most affluent and desirable suburbs and has been ranked the #1 Best City to Live in America by Niche for three consecutive years [2024 through 2026]. The market benefits from strong household incomes, highly rated schools, a highly educated workforce, and proximity to the I-88 technology and employment corridor.
HassleLess Mattress operates more than 30 locations throughout the Midwest and utilizes a unique employee-free, technology-driven showroom model designed to reduce labor and operating costs. Customers can independently test products in-store and place orders through digital kiosks, supported by remote, non-commissioned specialists and free next-day delivery. This efficient, low-overhead operating model has allowed the tenant to establish a growing regional footprint.
Investment highlights
LONG TERM NNN LEASE
New 10-year NNN lease with approximately 9 years of firm term remaining. The tenant is directly responsible for CAM, real estate taxes, and insurance, providing a passive investment structure with minimal landlord obligations.
BELOW-MARKET RENT | LONG-TERM REAL ESTATE UPSIDE
Current rent of approximately $28.78 PSF is below estimated market rents of $32.00 to $33.00 PSF, providing a sustainable occupancy cost for the tenant and protecting the investor’s residual value through future mark-to-market potential.
ESTABLISHED REGIONAL TENANT | UNIQUE OPERATING MODEL
HassleLess Mattress operates more than 30 locations throughout the Midwest and utilizes a technology-driven, employee-free showroom model designed to reduce labor and operating costs. Customers can shop independently, test products in-store, and order through digital kiosks, creating an efficient, low-overhead retail format.
PREMIER NAPERVILLE RETAIL LOCATION
Located approximately 30 miles west of downtown Chicago in Naperville, ranked the #1 Best City to Live in America for three consecutive years. The property is positioned at the southeast corner of the signalized Route 59 and Ogden Avenue intersection, benefiting from exposure to Route 59 [±60,100 VPD] and Ogden Avenue [±26,400 VPD], two of the area’s primary commercial thoroughfares.
MAJOR INVESTMENT IN IMMEDIATE TRADE AREA
The surrounding trade area is experiencing significant redevelopment and institutional investment, anchored by the continued transformation of Fox Valley Mall into a mixed-use lifestyle destination and the new $53 million Block 59 dining and entertainment district. These projects are adding new residential density, restaurants, entertainment, and public gathering spaces, further strengthening the long-term fundamentals of the Route 59 corridor.
DOMINANT NATIONAL RETAIL CORRIDOR
Situated within one of the western suburbs’ most established retail corridors, surrounded by major national retailers including Walmart Supercenter, Costco, The Home Depot, Lowe’s, ALDI, Dick’s Sporting Goods, and Meijer. The concentration of national retail and daily-needs destinations creates substantial consumer draw and reinforces the site’s long-term retail viability. The OM aerials on pages 6 and 7 illustrate the depth of national tenancy and residential density surrounding the property.
AFFLUENT CHICAGO MSA SUBMARKET
Naperville is one of the Chicago MSA’s most affluent and desirable suburbs, supported by strong household incomes, highly rated schools, a highly educated workforce, and proximity to the I-88 technology and employment corridor. The combination of purchasing power, population density, and quality-of-life fundamentals supports long-term retail demand and real estate value.
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