The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Chipotle property located at 1399 W Lincoln Highway in Chicago Heights, Illinois for $2,704,717.<\/p>\n
The newly constructed Chipotle drive-thru is operating under a new 15-year lease term with 10% rental escalations every 5 years and four 5-year renewal options.<\/p>\n
The property is strategically positioned at the signalized intersection of Western Avenue and Lincoln Highway (34,800 VPD), less than four miles from Interstate 57 (85,900 VPD). Retailers nearby include Walmart, ALDI, Food4Less, O\u2019Reilly Auto Parts, Oak Street Health, Fifth Third Bank, McDonald\u2019s, Wendy\u2019s, and Smoothie King. The population exceeds 169,000 within a 5-mile radius with an average household income of approximately $90,000.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The buyer is a 1031 exchange investor based in California and the seller is a Midwest-based commercial real estate company.<\/p>\n
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, operating3,752 locations worldwide as of 2025. 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.<\/p>\n
\u201cNewly constructed Chipotle assets with 15-year leases continue to garner significant private investor interest\u201d said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, \u201cSingle tenant assets with absolutely no landlord responsibilities are the most sought after assets for 1031 exchange investors.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Chipotle property located at 1399 W Lincoln Highway in Chicago Heights, Illinois for $2,704,717. The newly constructed Chipotle drive-thru is operating under a new 15-year lease term with 10% rental escalations every 5 years and four 5-year […]<\/p>\n","protected":false},"author":3,"featured_media":2997,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[388],"tags":[],"class_list":["post-2996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-net-lease-sold"],"yoast_head":"\n