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Views: 99 DOM: 510 Updated: 05.20.24 Posted: 01.19.23 Status: Active

Summary

Price $3,662,337
Built/Renov 2022
Tenant Chipotle Mexican Grill
Cap Rate 3.85%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 2,350
Lease Start 06-01-2022
#Units 3,437
Price/SF $1,558.44
Expiration 05-31-2042
Tenant Type Fast Casual/Rest.
NOI $141,000
R. Term 17.11
Ownership Fee Simple
Rent/SF $60.00
Increases 10.0%/5/yrs
Pop 5Mi 781,204
Lot/AC 0.47
Options 4/5yrs/10%
AHHI 5Mi $81,936

Lease Highlights

  • Chipotle is original tenant: build-to-suit facility (2022)
  • The tenant has over 14 years remaining in its initial term with 4 (5-year) options to extend
  • The lease features 10% rent increases every 5 years
  • Zero landlord responsibilities- Absolute NNN lease
  • Corporate guarantee by Chipotle Mexican Grill, Inc (NYSE: CMG)

Location Description

Chipotle is strategically located at the hard corner, signalized intersection of Harlem Avenue and Madison Street, a primary thoroughfare with over 53,000 vehicles passing by daily. The building is equipped with a drive thru. The property profits from excellent visibility via significant street frontage and a large monument sign. The site is a short walk from Rush Oak Park Hospital (664 beds)...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Chipotle Mexican Grill, Inc., or “Chipotle”, is an American chain of fast-casual restaurants in the U.S., United Kingdom, Canada, Germany, and France. The Fortune 500 company...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 37,363 278,220 753,322
2023 Total Population : 37,498 283,490 770,315
2023 Employed Civilian Pop : 21,761 136,689 361,664
2023 Total Businesses : 1,677 6,574 16,592
2023 Average Household Income : $ 128,488 $ 102,484 $ 89,477
2023 Total Consumer Spending : $ 2075 M $ 9466 M $ 21108 M
2023 Median Age : 42 37 35
2023 Total Households : 18,985 107,440 273,889
2023 Pop Age 25+: Bachelor's Degree : 9,481 35,699 78,494
2023 Average Home Value : $ 439,033 $ 360,443 $ 316,627
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Harlem Ave Alley 2013 37,300 0.06 mi
Madison St Elgin Ave 2014 11,700 0.07 mi
Madison St S Maple Ave 2018 19,100 0.08 mi
Wisconsin Ave Washington Blvd 2014 1,150 0.16 mi
Washington Blvd Wisconsin Ave 2014 7,050 0.16 mi
IL 43 Randolph St 2021 31,900 0.16 mi
IL 43 2021 32,700 0.17 mi
Randolph St Belvidere Ave 2014 7,000 0.28 mi
Randolph St 2021 7,600 0.32 mi
Randolph Street Alley 2018 2,200 0.33 mi

Listing Broker

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