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31659815
31659817

2302 Thornton Lansing Rd, Lansing, IL 60438

RB
IL IL 471005983
The Boulder Group
JG
IL 471007006
The Boulder Group
JF
IL 475154756
The Boulder Group
Listed by The Boulder Group
$2,511,942
54 days on market
Updated 54 days ago

Chipotle

Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 2,465
Cap Rate 5.25%
NOI $131,877
Tenancy Single
Brand/Tenant Chipotle
Lease Type Absolute NNN
Lease Expiration 05/31/2039
Remaining Term 13
Rent Bumps Yes
Lease Options Four 5-year
Year Built 2024
Acreage 0.610
Investment Type Net Lease
Lease Commencement 05/14/2024
Ground Lease No

5.25% Cap Rate | NNN | 2024 Build

Marketing description

The Boulder Group is pleased to exclusively market for sale a single tenant NNN leased Chipotle property located within the Chicago MSA in Lansing, Illinois. The property was built specifically for Chipotle in 2024 with a long-term 15-year lease through May 2039. The lease is absolute triple net and presents zero landlord responsibilities. Additionally, there are 10% rental escalations every five years throughout the primary term and four 5-year renewal options.

The 2,465 square-foot building sits on a hard corner at a signalized intersection along IL-83 (30,000 VPD), with convenient access to Interstate 94 (193,000 VPD) and SR-394 (86,000 VPD) just minutes away. The surrounding trade area boasts a population of over 220,000 residents within five miles and an average household income exceeding $94,000 within three miles. The site is flanked by a strong lineup of national retailers including Walmart Supercenter, Chick-fil-A, Walgreens, McDonald's, Starbucks, AutoZone, and Dollar Tree, among others. Additional traffic is drawn to the area by the nearby Thornton Fractional South High School, serving approximately 1,800 students.

Chipotle Mexican Grill, Inc. is an American multinational fast-casual restaurant chain founded by Steve Ells on July 13, 1993. Specializing in customizable Mexican-inspired using fresh ingredients, the company pioneered the fast-casual dining model by emphasizing "Food with Integrity"—responsibly sourced meats, wholesome ingredients without artificial colors, flavors, or preservatives, and a commitment to sustainable practices. Headquartered in Newport Beach, California, Chipotle operates over 4,000 restaurants, with a publicly traded status on the NYSE under ticker CMG and a workforce exceeding 130,000 employees, continuing to lead in digital innovation, including its app and loyalty program.

Investment highlights

  • Positioned within the Chicago MSA - Ranked #3 in the United States for population size
  • Recent construction completed in 2024
  • Absolute NNN - Zero landlord responsibilities
  • Long-term lease through May 2039
  • 10% rental escalations every five years
  • Hard corner location at a signalized intersection along IL-83 (±30,000 VPD)
  • Minutes from Interstate 94 (193,000 VPD) & SR-394 (86,000 VPD)
  • 220,000+ residents within a five-mile radius
  • Average household income exceeds $94,000 within a three-mile radius
  • Surrounded by national retailers including Walmart Supercenter, Chick-fil-A, Walgreens, McDonald's, Starbucks, AutoZone, Dollar Tree, and more
  • Proximity to Thornton Fractional South High School (1,800 students)

Listing Contacts

RB
IL IL 471005983
The Boulder Group
JG
IL 471007006
The Boulder Group
JF
IL 475154756
The Boulder Group
Listed by The Boulder Group

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$131,877.00
$10,989.75/mo

Valuation Metrics

0
DSCR
5.25%
Cap Rate
5.25%
ROI

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Additional Information

Name
Randy Blankstein
License
IL 471005983
Brokerage Phone
8475620003
Title
IL
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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