December 15, 2023 – Matt Nadler of Horvath & Tremblay has successfully completed the sale of a Raising Cane’s in New Lenox, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,454,545.
Raising Cane’s is located at 552 E Lincoln Highway in New Lenox, Illinois. The new construction, free-standing single tenant Raising Cane’s consists of a 3,062 square foot building with a drive thru. Raising Cane’s has a new 15-year Absolute NNN Ground Lease with five (5), five-year renewal options. The lease calls for attractive 7.5% increases every 5-years throughout the primary lease term and at the start of each renewal option. Raising Cane’s is a fast-growing national QSR chain specializing in chicken fingers. Founded in 1996, the company is rapidly expanding and has more than 700 locations with plans for continued aggressive expansion. The new construction Raising Cane’s is extremely well located along E Lincoln Highway (US Route 30), the area’s primary commercial and commuter corridor. The Property is positioned across the street from a Walmart Supercenter and is surrounded by national retailers and restaurants that drive traffic to the area. The Property is 0.7-miles from the New Lenox Metra Station and 2-miles from Interstate 80. Raising Cane’s is also within 1.5-miles of six area schools including Lincoln Way Central High School and is surrounded by densely populated residential neighborhoods that provide a built-in customer base.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.