Net Leased Chipotle Sold

The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Chipotle property located at 2302 Thornton Lansing Road in Lansing, Illinois for $2,333,000.

The newly constructed Chipotle has a 15-year NNN lease term with 10% rental escalations every 5 years and four   5-year renewal options.

The property is strategically positioned at the signalized intersection of Torrence Ave (29,400 VPD) & Thornton Lansing Rd (11,100 VPD, directly across the street from Starbucks. The property benefits from its location less than one mile from Interstate 94 (150,700 VPD) and 25 miles from downtown Chicago.

Retailers nearby include Walmart, Walgreens, Dollar Tree, O’Reilly Auto Parts, AutoZone, Jiffy Lube, McDonald’s, Dunkin’, Dairy Queen, Popeyes, Burger King, Subway, Wingstop, T-Mobile, AT&T, Planet Fitness, and Citgo.

The surrounding area features strong demographics, with a population of 225,463 within a 5-mile radius and an average household income of $82,608 within 5 miles.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer and seller in the transaction. The purchaser is a 1031 exchange buyer and the seller is a Midwest based developer.

Chipotle Mexican Grill, Inc., often referred to simply as Chipotle, is a prominent American chain of fast-casual restaurants specializing in tacos and Mission-style burritos. Founded in 1993 by Steve Ells in Denver, Colorado, the company has grown significantly, operating more than 3,375 locations worldwide as of 2024. Chipotle is renowned for its commitment to using high-quality ingredients and promoting food sustainability, evidenced by its “Food with Integrity” philosophy, which emphasizes the use of organic produce, naturally raised meat, and dairy from pasture-raised cows. Headquartered in Newport Beach, California, Chipotle has become a leader in the fast-casual dining sector, distinguished by its customizable menu and efficient service model.

“Chipotle assets with lengthy lease terms continue to garner significant investor interest”, said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “This property benefits from attractive demographics and its location within the nation’s 3rd most populous metropolitan area.”

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