442 Rand Rd Lake Zurich, IL 60047
- Retail properties
- 2,350 SF
- 1.00 lot acres
Current Use by Public Records
- Retail properties
Property Details for 442 Rand Rd
- Year built
- 2024
- Lot size
- 1.00 lot acres
- Property size
- 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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lake Zurich
- County
- Lake
- State
- Illinois
- Longitude
- -88.1058
- Latitude
- 42.19
