Chipotle Mexican Grill

Highlights:

• RARE 20-YEAR NET LEASE | INDUSTRY LEADING TENANT Chipotle has signed a brand new 20-year lease with minimal landlord responsibilities. The company has exhibited strong growth year over year, on track to open 315 new stores in 2024 and 345 new stores in 2025, with a long-term growth goal of 7,000 total stores. The company’s financial performance has been stellar, with comparable store sales up 11% following the end of Q3 2024, YoY revenue growth of 15%, and TTM revenue of $10.7 billion.
• NEAR “MAIN & MAIN” CORNER | HIGH TRAFFIC INTERSECTION The 2,160 square foot building that Chipotle occupies is located at the lighted intersection of West Peterson Avenue and North Richmond Avenue. The property is located one thousand feet west of the West Peterson and Lincoln Avenue intersection that sees an average of nearly 60,000 vehicles per day. Peterson Avenue connects the surrounding communities of Forest Glen, North Park, and Edgewater. Lincoln Avenue bisects the North Chicago neighborhoods of Peterson Park, Lincoln Square and Ravenswood.
• BRAND NEW 2024 BUILDOUT | RELOCATION FROM HIGH PERFORMING INLINE STORE The subject property has been completely renovated to accommodate the business operations of Chipotle. Renovations at the subject property include, a new parking lot, roof, patio area, landscaping, and all new interior finishings. Chipotle recently relocated from an inline location along Lincoln Ave east of the subject offering.
• COVETED “CHIPOTLANE” LOCATION The subject location is a Chipotle “Chipotlane” concept, offering customers to place their order ahead of time and pick-up using the drive thru lane. The concept has been implemented at 30% of the company’s locations and has shown to increase revenue by 15% when compared to traditional stores.
• PROXIMITY TO DOWNTOWN CHICAGO | NORTH SIDE NEIGHBORHOOD West Ridge is a premier northside neighborhood located ~10 miles north of Downtown Chicago and east O’Hare International Airport. The community received an “A” rating by Niche in 2024, based on the quality of education, safeness, and employment opportunities. The 55,704 residents within a one-mile radius of the subject property enjoy an average household income of $102,390 and home values of $404,017. The neighborhood acts as a bedroom community for residents working downtown and offers excellent access to local interstate systems 90 and 94, in addition to O’Hare International Airport, utilized by 73 million travelers per year

Description:

Mid-America Real Estate Corporation has been retained by the owner to sell the fee simple
interest in 2935 West Peterson Avenue, a Chipotle Mexican Grill operating on a rare 20-
year net lease. The subject offering is a “Chipotlane” drive-thru store and is situated near
the high-traffic intersection of West Peterson Avenue and North Lincoln Avenue.

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