Single-Tenant Ground Leased
151 E TOWNLINE RD Vernon Hills, IL 60061
151 E TOWNLINE RD, Vernon Hills, IL, 60061
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For Sale
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Raising Cane’s is secured by a new 15-year triple-net ground lease through May 2041 with zero landlord responsibilities.
Property Size3,454 SF
Price / SF$1,069
Days on Market56
Property Features for 151 E TOWNLINE RD
General Information
- Standard status
- Active
- Size
- 3,454 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2026
Listing agency
The Boulder Group
(847) 562-0003
Listed by
Randy Blankstein · License #IL 471005983
Source
Crexi
Added: May 28 Updated: Jul 10 at 1:52PM Checked: Jul 21 at 4:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Boulder Group
Investment Insights
Based on property information with market context.
A single-tenant Raising Cane’s ground leased property offered for sale. The arrangement is structured as a triple-net ground lease with zero landlord responsibilities, featuring 10% rental escalations throughout the primary term and five 5-year renewal options. Construction was completed in May 2026, with rent commencing May 26, 2026. The offering includes a 3,454-square-foot building.
The site is positioned along Illinois Route 60/Townline Road in Vernon Hills within the Chicago MSA. The corridor is described as one of Lake County’s high-traffic retail routes, with access to minutes-from Interstate 94. The property is located in the Townline Road/Lakeview Parkway retail corridor, with nearby national co-tenants including Target, Whole Foods, Best Buy, DICK’S Sporting Goods, Sam’s Club, Kohl’s, HomeGoods, REI, Nordstrom Rack, Home Depot, Old Navy, T.J. Maxx, Ross, and Michaels. The location also draws traffic from Vernon Hills High School and Stevenson High School.
For buyers seeking a professionally structured, brand-operated restaurant ground lease, the lease term runs through May 2041 and provides contractual rental escalations plus multiple renewal opportunities. Since the lease is triple-net with zero landlord responsibilities, the buyer’s role is limited to the ground lease ownership framework supporting the tenant’s ongoing operations under the executed terms.
The site is positioned along Illinois Route 60/Townline Road in Vernon Hills within the Chicago MSA. The corridor is described as one of Lake County’s high-traffic retail routes, with access to minutes-from Interstate 94. The property is located in the Townline Road/Lakeview Parkway retail corridor, with nearby national co-tenants including Target, Whole Foods, Best Buy, DICK’S Sporting Goods, Sam’s Club, Kohl’s, HomeGoods, REI, Nordstrom Rack, Home Depot, Old Navy, T.J. Maxx, Ross, and Michaels. The location also draws traffic from Vernon Hills High School and Stevenson High School.
For buyers seeking a professionally structured, brand-operated restaurant ground lease, the lease term runs through May 2041 and provides contractual rental escalations plus multiple renewal opportunities. Since the lease is triple-net with zero landlord responsibilities, the buyer’s role is limited to the ground lease ownership framework supporting the tenant’s ongoing operations under the executed terms.
Key Highlights
- Single‑tenant Raising Cane’s property with a new 15‑year triple‑net ground lease through May 2041.
- Lease features zero landlord responsibilities, with 10% rental escalations throughout the primary term.
- Signed May 2041 lease also includes five 5‑year renewal options.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Raising Cane’s is secured by a new 15-year triple-net ground lease through May 2041 with zero landlord responsibilities.
Where is this conventional restaurant located?
The property is located at 151 E TOWNLINE RD Vernon Hills, IL.
What is the asking price?
The asking price for this property is $3,695,652.
What are key features of this property?
This property features: Single‑tenant Raising Cane’s property with a new 15‑year triple‑net ground lease through May 2041.; Lease features zero landlord responsibilities, with 10% rental escalations throughout the primary term.; Signed May 2041 lease also includes five 5‑year renewal options.
