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 renewal options.
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’Reilly Auto Parts, Oak Street Health, Fifth Third Bank, McDonald’s, Wendy’s, and Smoothie King. The population exceeds 169,000 within a 5-mile radius with an average household income of approximately $90,000.
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.
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.
“Newly constructed Chipotle assets with 15-year leases continue to garner significant private investor interest,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Single tenant assets with absolutely no landlord responsibilities are the most sought after assets for 1031 exchange investors.”
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 2013-2024, 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 Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
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
