Press release
The Boulder Group Arranges Sale of Chipotle in Chicago MSA
The Chipotle property at 2302 Thornton Lansing Road in Lansing, Illinois occupies a hard corner position at a signalized intersection along IL-83 and Thornton Road. IL-83 carries approximately 30,000 vehicles per day past the property. Interstate 94, which carries approximately 193,000 vehicles per day, is located just minutes from the site. SR-394, carrying approximately 86,000 vehicles per day, also provides convenient regional access. The property is located within the Chicago-Naperville-Elgin Metropolitan Statistical Area, which ranks as the third-largest MSA in the United States with a population of approximately 9.5 million. Lansing is a village in Cook County, Illinois, situated approximately 25 miles south of downtown Chicago. The population within five miles of the property exceeds 220,000 residents. The average household income within three miles is approximately $94,000. The population within one mile is approximately 12,790 residents across more than 5,100 households. The Chipotle in Lansing, Illinois is surrounded by a strong concentration of national retailers including Walmart Supercenter, Chick-fil-A, Walgreens, McDonald's, Starbucks, Dunkin', Taco Bell, Popeyes, Subway, AutoZone, O'Reilly Auto Parts, Dollar Tree, Planet Fitness, Quest Diagnostics, and AT&T. Thornton Fractional South High School, serving approximately 1,800 students, is located nearby and generates consistent daily traffic. Oak Glen Elementary School and Memorial Junior High School are also in close proximity to the property. Lansing Municipal Airport is located within the village, providing additional commercial activity in the area.
Randy Blankstein, Jimmy Goodman and John Feeney of The Boulder Group represented the seller in the transaction. The seller was a private family located in the Midwest. The buyer was a family trust based in California that acquired the net leased Chipotle property as a long-term passive investment.
The lease at the Chipotle property in Lansing, Illinois is structured as an absolute triple net lease, requiring zero landlord responsibilities. The lease expires on May 31, 2039, leaving approximately 13 years of remaining term. The lease commenced on May 14, 2024. Rental escalations of 10% occur every five years throughout the primary lease term, providing built-in income growth. The tenant has four 5-year renewal options, extending the potential lease term through 2059. As an absolute NNN lease, the property owner has no responsibility for taxes, insurance, maintenance, or capital expenditures.
Chipotle Mexican Grill, Inc. is headquartered in Newport Beach, California and was founded in 1993 in Denver, Colorado. The company is a leading fast-casual restaurant chain specializing in customizable Mexican-inspired dishes including burritos, burrito bowls, tacos, quesadillas, and salads prepared with fresh ingredients. Chipotle operates more than 4,000 restaurant locations across the United States and international markets including Canada, the United Kingdom, France, and Germany. The company employs more than 130,000 people and has been a pioneer in digital ordering through its mobile application and loyalty program. Chipotle Mexican Grill, Inc. carries an investment-grade credit rating.
"Net leased fast-casual restaurant properties with long-term leases and investment-grade tenants continue to attract strong investor demand across all buyer profiles," said Randy Blankstein, President of The Boulder Group. "Chipotle remains one of the most sought-after tenants in the net lease sector due to its national brand recognition and continued expansion." Jimmy Goodman, Partner of The Boulder Group, added, "This new construction Chipotle in Lansing, Illinois drew significant interest from investors due to its absolute NNN lease structure with zero landlord responsibilities, 10% rental escalations every five years, and its positioning at a signalized hard corner along a high-traffic corridor within the Chicago MSA." -- John Feeney, Senior Vice President of The Boulder Group.
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 $11 billion of single tenant net lease real estate transactions. From 2013-2025, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both CoStar and MSCI Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
More info: www.bouldergroup.com [https://www.bouldergroup.com/]
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=the-boulder-group-arranges-sale-of-chipotle-in-chicago-msa]
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
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