Single-Tenant NNN Ground Lease
For Sale
Contact for pricing
1701 S Randall Rd, Algonquin, IL 60102
Brand-new build-to-suit asset occupied by Raising Cane’s under an absolute NNN ground lease.
Property SizeContact for details
Days on Market142
Property Features for 1701 S Randall Rd
General Information
Standard status
Active
Property subtype
Retail
Listing Agency:
JLL Chicago | Americas Headquarters
(312) 782-5800
Listed By:
Mohsin Mirza · License #IL 475.189943
Source:
Crexi
Added: Apr 13
Changed: Aug 31
Last Checked: Aug 29 at 8:25PM
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 JLL Chicago | Americas Headquarters
Investment Insights
Based on property information with market context.
Delivered in June 2023, this build-to-suit restaurant property is occupied by Raising Cane’s under a 15.0-year absolute NNN ground lease. The lease includes 10.0% rent increases every 5-years and five, five-year renewal options, with zero landlord responsibilities. The property was scheduled to open in January 2024.
Positioned at 1701 S. Randall Road in Algonquin, the site benefits from direct exposure to a corridor carrying over 41,000 vehicles per day. It is adjacent to Algonquin Commons, a lifestyle center with 600K square feet of retail space and over 4.4 million annual visitors. The surrounding retail hub encompasses 3.5 million square feet and includes Lowe’s, Costco, The Home Depot, and Meijer.
The property forms part of a 70-acre, three-phase mixed-use development. Planned components include seven national retailer outparcels, additional retail outparcels, and a 54-acre residential phase with 487 units.
Positioned at 1701 S. Randall Road in Algonquin, the site benefits from direct exposure to a corridor carrying over 41,000 vehicles per day. It is adjacent to Algonquin Commons, a lifestyle center with 600K square feet of retail space and over 4.4 million annual visitors. The surrounding retail hub encompasses 3.5 million square feet and includes Lowe’s, Costco, The Home Depot, and Meijer.
The property forms part of a 70-acre, three-phase mixed-use development. Planned components include seven national retailer outparcels, additional retail outparcels, and a 54-acre residential phase with 487 units.
Key Highlights
- 100% leased to Raising Cane’s under a 15.0‑year absolute NNN ground lease
- 10.0% rent increases every 5‑years and five, five‑year renewal options
- Build‑to‑suit property delivered in June 2023
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Explore this area
Business Placement
Demographics for 60102, IL
31,959
Population
12,076
Households
2.6
Avg Household Size
42
Median Age
43%
College-Educated
95%
High-School Grad
15.8 sq mi
ZIP Area
2,023
Density / Sq Mi
$128,070
Median Household Income
$59,484
Median Earnings
$1,826
Median Rent
$320,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
NNN property - Brand-new build-to-suit asset occupied by Raising Cane’s under an absolute NNN ground lease.
Where is this nnn property located?
The property is located at 1701 S Randall Rd Algonquin, IL.
What are key features of this property?
This property features: 100% leased to Raising Cane’s under a 15.0‑year absolute NNN ground lease; 10.0% rent increases every 5‑years and five, five‑year renewal options; Build‑to‑suit property delivered in June 2023
