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1801 Randall Road
Algonquin, IL 60102
Portillo's · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- High-performing intersection with excellent visibility.
- Located on Randall Rd, a major thoroughfare and premier location in the submarket.
- One of the strongest and most desirable retail trade areas within Algonquin.
- The shopping center is over 70% leased out to major national tenants including Chipotle, Raising Cane's, Cooperhawk's.
- One of the fastest growing cities in Illinois.
EXECUTIVE SUMMARY
IRAAP LLC is pleased to exclusively present the opportunity to acquire a premier
Portillo’s Ground Lease located at 1801 S. Randall Road, Algonquin, IL. Newly
constructed in 2023, this high-visibility, net-leased asset offers a long-term
corporate-guaranteed lease with Portillo’s Hot Dogs, LLC, one of the most
recognized fast-casual brands in the Midwest.
This 7,326-square-foot freestanding restaurant is situated on a 2.95-acre parcel in a
dense retail corridor with strong demographics and high traffic counts. The
property features a 10-year initial lease term with 10% rental increases every five
years, and four (5-year) renewal options, offering long-term income growth and a
stable return.
With a net operating income of $300,000 and priced at $7,750,000, the
investment offers a cap rate of 4%. As a true ground lease, the tenant is
responsible for all maintenance, including the structure and roof—ensuring
minimal landlord responsibilities and maximum cash flow efficiency.
Portillo’s Ground Lease located at 1801 S. Randall Road, Algonquin, IL. Newly
constructed in 2023, this high-visibility, net-leased asset offers a long-term
corporate-guaranteed lease with Portillo’s Hot Dogs, LLC, one of the most
recognized fast-casual brands in the Midwest.
This 7,326-square-foot freestanding restaurant is situated on a 2.95-acre parcel in a
dense retail corridor with strong demographics and high traffic counts. The
property features a 10-year initial lease term with 10% rental increases every five
years, and four (5-year) renewal options, offering long-term income growth and a
stable return.
With a net operating income of $300,000 and priced at $7,750,000, the
investment offers a cap rate of 4%. As a true ground lease, the tenant is
responsible for all maintenance, including the structure and roof—ensuring
minimal landlord responsibilities and maximum cash flow efficiency.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,326 SF
Building Class
B
Year Built
2023
Price
$8,000,000
Price Per SF
$1,092.00
Cap Rate
3.75%
NOI
$300,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
2.97 AC
PROPERTY TAXES
| Parcel Number | 03-05-300-009 | Improvements Assessment | $0 |
| Land Assessment | $3,844 | Total Assessment | $3,844 |
PROPERTY TAXES
Parcel Number
03-05-300-009
Land Assessment
$3,844
Improvements Assessment
$0
Total Assessment
$3,844
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