STREAM Capital Partners > Properties > All Properties > Chipotle

Chipotle

Net Lease

Joliet, Illinois>1351 Shale Rd., Joliet, Illinois
Ownership Type:
Fee Simple
Price:
$2,820,000
Cap Rate:
5.25%
Current Rent:
$148,050
Tenancy:
Single Tenant
Lease Type:
DoubleNet
Lease Term:
15 years
Landlord Responsibilities:
See OM
Renewal Options:
4, 5 Year Options
Building Sq. Ft.:
2,350 SF
Rent Increases:
10% Every 5 Years
Site Size:
1.10 Acres

Investment Highlights

  • Long Term Corporate Lease: Chipotle signed a 15 year lease with scheduled rent increases of 10% every 5 years. Chipotle is a premier fast casual operator nationwide with more than 3,770 locations and plans to open around 345 new restaurants per year.
  • New Construction: High quality construction featuring Chipotle’s current prototype which includes a “Chipotlane” drive-thru, mitigating any potential short term CAPX.
  • Passive Management: Chipotle is responsible for day-to-day management of the premises, taxes, and insurance and reimburses the association for their pro-rata share of all CAM costs related to Rock Run.
  • Rock Run Collection: The property is located within the Rock Run Collection, a brand new super regional mixed-use development conveniently located at the intersection of I-55 & I-80. Rock Run is set on 310 acres and will feature over 1mm SF of retail, entertainment (including a new Hollywood Casino), hospitality, office, healthcare, and multifamily combined and will draw consumers from Central IL, IA, IN, and the Chicago MSA.
  • Dense Traffic Counts: The development enjoys unparalleled visibility with over 230,000 vehicles passing daily at the I-80 and I-55 interchange. A newly completed interchange now provides direct access to Rock Run Collection from I-55 and a new bridge on Olympic Blvd. connects Rock Run to I-80, enhancing convenience and driving regional connectivity.
  • Affluent Demographics: Within a 5-mile radius, average household incomes exceed $109,000, reflecting strong consumer spending power. The population is also projected to grow by 3% over the next five years, further strengthening long-term demand for retail, dining, and residential offerings.
Ownership Type:
Fee Simple
Price:
$2,820,000
Cap Rate:
5.25%
Current Rent:
$148,050
Lease Type:
DoubleNet
Lease Term:
15 years
Landlord Responsibilities:
See OM
Renewal Options:
4, 5 Year Options
Building Sq. Ft.:
2,350 SF
Rent Increases:
10% Every 5 Years
Site Size:
1.10 Acres

Listing Agents

Graham Gold

Vice President
314 324 8792[email protected]

Jordan Shtulman

Managing Principal
847.226.4133[email protected]

Analyst

Ben Hollis

Analyst
256.595.2574[email protected]

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