June 24, 2021 – Drew McElligott and Aaron Rothbard of Horvath & Tremblay have successfully completed the sale of Chipotle & Potbelly in Dekalb, Illinois. Horvath & Tremblay exclusively represented the seller and procured the buyer in this transaction at a sale price of $1,975,000.
The Chipotle & Potbelly investment property is located at 1013 West Lincoln Highway, Illinois. The two-tenant, fee simple Property includes a 5,000 square foot building on a 0.96-acre lot. Both leases feature corporate guarantees and upcoming rent increases with minimal Landlord responsibilities. Chipotle and Potbelly have been operating at the Property for 14 years with a history of exercising early Renewal Options. The Property is at the center of an active pocket of retail and restaurants on the Northern Illinois University campus with Starbucks an adjacent co-tenant (separately-owned) sharing ingress and egress. Additional neighboring retail includes CVS, Walgreens, McDonald’s, Burger King, Jersey Mike’s, Dunkin Donuts, I-HOP, and Sonic among others. The property is located near the corner of IL Route 38 (Lincoln Highway) and Annie Glidden Road, a key connector for both the NIU campus and Interstate 88, which is less than 2-miles south of the Property. The property fronts Route 38, one of Dekalb’s primary East-West corridors. Northern Illinois University, less than an hour’s drive from metro Chicago, is the 2nd largest university in the state and a nationally-ranked public university with a student body in excess of 20,000.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.