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Chipotle & First Watch 1721 Randall Rd 6,150 SF 100% Leased 4-Star Retail Building Algonquin, IL 60102 $5,916,250 ($961.99/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- New 2025 Construction with Premier Tenancy and Long-Term Leases | Chipotle 15 Years & First Watch 12 Years
- Strategic Location in a Thriving Retail Hub | Retail Spans a 2.8-Mile Stretch, Filling a Critical Void for Nearby Communities
- Average Household Income of $152,151 Within a Mile Radius
- High-Traffic, Synergistic Development | Part of “The Enclave”, a 70-Acre Mixed-Use Development
- Adjacent to Algonquin Commons, Which Draws Over 5.1 Million Annual Visitors (Placer.ai)
- Property Features a High-Demand “Chipot-Lane” for Mobile Order Pickup
EXECUTIVE SUMMARY
This newly constructed, two-tenant property (2025) presents a rare investment opportunity in a prime retail location, featuring national, internet-resistant tenants secured by long-term leases. Chipotle has committed to an exceptional 15-year lease, complete with a mobile order pickup lane—a notable extension beyond their standard 10-year agreements. First Watch complements this with a 12-year lease. Furthermore, both tenants have 10 percent rent increases every five years.
Strategically situated in an affluent, high-growth area within the Chicago MSA, the property is located in a thriving 2.8-mile retail corridor at the heart of “The Enclave” development. This dynamic hub boasts synergistic tenants and ongoing development activity. By 2029, the population within a one-mile radius is projected to increase by over three percent, with the average household income exceeding $168,000.
Strategically situated in an affluent, high-growth area within the Chicago MSA, the property is located in a thriving 2.8-mile retail corridor at the heart of “The Enclave” development. This dynamic hub boasts synergistic tenants and ongoing development activity. By 2029, the population within a one-mile radius is projected to increase by over three percent, with the average household income exceeding $168,000.
DATA ROOM Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,150 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2025
Price
$5,916,250
Price Per SF
$961.99
Cap Rate
6%
NOI
$354,975
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Parking
89 Spaces (14.47 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Restaurant
- Signalized Intersection
- Drive Thru
- Smoke Detector
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Chipotle
- Accommodation and Food Services
-
99,999 SF
-
$9.99
- -
- First Watch
- Accommodation and Food Services
-
99,999 SF
-
$9.99
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Chipotle | Accommodation and Food Services | 99,999 SF | $9.99 | - | ||
| First Watch | Accommodation and Food Services | 99,999 SF | $9.99 | - |
NEARBY MAJOR RETAILERS
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Chipotle & First Watch | 1721 Randall Rd
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