The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Chipotle property located at 442 S Rand Road in Lake Zurich, Illinois for $2,768,500.
The newly constructed Chipotle drive-thru is operating under a 15-year 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 Rand Road (45,800 VPD) & State Route 22 (18,200 VPD). The property benefits from its location less than 40 miles from downtown Chicago, the 3rd most populous MSA in the United States.
Retailers nearby include Costco, Home Depot, Target, Walmart, Office Max, LA Fitness, Regal, Jewel-Osco, Trader Joe’s, Goodwill, T.J. Maxx, Chase, Bank of America, Dollar Tree, Petco, Shell, Firestone, Casey’s, Verizon, McDonald’s, Taco Bell, Starbucks, Dunkin’, Burger King, Wendy’s, Panera, Popeyes, McAlister’s Deli, 7 Brew Coffee, and many others. The property is located less than 2 miles from Lake Zurich High School.
The surrounding area is well populated and highly affluent, with a population of 86,476 within a 5-mile radius and an average household income of $197,404 within 5 miles.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The purchaser is a local individual and the seller is a Chicago-area full-service commercial real estate company.
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.
“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.”
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 $9 billion of single tenant net lease real estate transactions. From 2014-2024, 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.
More info: www.bouldergroup.com
Media ContactCompany Name: The Boulder GroupContact Person: Randy BlanksteinEmail: Send EmailPhone: 8478816388Address:3520 Lake Avenue Suite 203City: WilmetteState: IllinoisCountry: United StatesWebsite: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
