Raising Cane's 151 E Townline Rd 3,454 SF 100% Leased Retail Building Vernon Hills, IL 60061 $3,578,947 ($1,036.17/SF) 4.75% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant ground leased Raising Cane’s property located in Vernon Hills, Illinois, within the Chicago MSA. Raising Cane’s signed a new 15-year ground lease running through May 2041. The triple-net ground lease has zero landlord responsibilities and features 10% rental escalations throughout the primary term, plus ?ve 5-year renewal options. Construction was completed in May 2026, and rent commenced on May 26, 2026.
The 3,454 square-foot building is strategically positioned in one of Lake County’s most affluent and high-traffic retail corridors. This Raising Cane’s location bene?ts from a dense and prosperous customer base of 131,000 residents within a ?ve-mile radius, with an average household income of $198,000. This is also the only Raising Cane’s in the immediate area, with the nearest location 12 miles north in Gurnee, Illinois. The site sits along Illinois Route 60/Townline Road, which carries 35,000 vehicles per day and is just minutes from Interstate 94 (145,000 VPD). The property is located within the Townline Road/Lakeview Parkway retail corridor, home to Hawthorn Mall and a powerful mix of national co-tenants including Target, Whole Foods, Best Buy, DICK’S Sporting Goods, Sam’s Club, Kohl’s, HomeGoods, REI, Nordstrom Rack, The Home Depot, Old Navy, T.J. Maxx, Ross, and Michaels, among many others. The location also draws consistent daytime and after-school traffic from nearby Vernon Hills High School (1,500 students, 5 minutes away) and Stevenson High School (4,700 students, 10 minutes away). Reinforcing the strength of the trade area, Lake County is home to nine-plus Fortune 500 headquarters, including AbbVie, Abbott Laboratories, Walgreens, Baxter International, W.W. Grainger, Discover Financial, and CDW, representing the second-largest concentration of Fortune 500 headquarters in the Midwest.
Raising Cane’s Chicken Fingers is an American fast-food restaurant chain founded in 1996 by Todd Graves and Craig Silvey in Baton Rouge, Louisiana, specializing in a limited menu centered on chicken finger meals. The company is named after Graves’s yellow Labrador, Raising Cane, and is known for its simple offerings, which include chicken fingers, crinkle-cut fries, coleslaw, Texas toast, and its signature Cane’s Sauce. Headquartered in Plano, Texas, the privately held chain has expanded rapidly from its original location near the gates of Louisiana State University to more than 800 restaurants across the United States and several international markets, including the Middle East. Raising Cane’s has consistently ranked among the fastest-growing restaurant chains in the country and is recognized for its strong brand culture, active sponsorships, college-town locations, and community involvement. Founder Todd Graves remains the company’s CEO and majority owner, and the company has reported annual systemwide sales exceeding $5 billion in recent years.