442 Rand RdLake Zurich, IL 60047

Property Details for 442 Rand Rd

Year built

2024

Lot size

1.00 AC

Property size (Sq ft)

2,350 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a single-tenant, net-leased Chipotle restaurant located at 442 S Rand Rd, Lake Zurich, IL 60047. The 2,350 square-foot building, constructed in 2024, boasts a prime hard corner location on Rand Road and State Route 22, a high-traffic area with over 64,000 vehicles daily. The property features the new "Chipotlane" drive-thru concept, enhancing operational efficiency and sales potential. A new 15.2-year lease commenced January 2025 and includes four 5-year renewal options, with 10% rent bumps every five years. The property sits on a one-acre lot and benefits from a strong surrounding retail environment, including national tenants such as Jewel-Osco, Trader Joe's, Target, The Home Depot, Costco, Lifetime Fitness, and Walmart. The affluent area boasts an average household income of $197,768 within a three-mile radius, and over 86,000 people reside within five miles. The property's proximity to Lake Zurich High School (less than two miles) provides a substantial customer base. The building has a roof warranty extending to 2044. The current Net Operating Income (NOI) is $145,700, resulting in a 5.00% cap rate. This is a turnkey investment with a strong tenant, long-term lease, and significant upside potential. The asking price is $2,914,000.

Location Insight

City

Lake Zurich

County

Lake

State

Illinois

Latitude

42.19

Longitude

-88.1058

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