The five-story building is situated on 3,999 square feet of land with approximately 40 feet frontage along West Lake Street. The first floor of the Property contains two retail spaces, one of which is occupied by Chipotle. Office tenants occupy the second, third, and fourth floors of the Property. The fifth floor of the Property contains a residential apartment with 4 bedrooms and 3 bathrooms.
The Property is located in Chicago's central business district, also known as the Loop, directly opposite Chicago's iconic Wacker Drive. Due to its proximity to some of the city's most significant landmarks and destinations, as well as the Chicago Transit Authority (CTA) Pink, Green, Orange, Brown, and Blue Line 'L' stations, the Property also has some of the highest pedestrian counts in the city. The Property has some of the city's most desirable demographics. Within one mile, the average household income is $155,847, the average property value is $449,136, and the population total is 115,675.
Chipotle Mexican Grill, Inc. is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. Chipotle had over 3,100 restaurants as of December 31, 2022, in the United States, Canada, the United Kingdom, France and Germany and is the only restaurant company of its size that owns and operates all its restaurants. Chipotle is currently in a 10 ycash flowear current term to December 2033. The additional retail space gives an investor a runway to add value through reletting the space while maintaining consistent cashflow in the interim. In addition, the landlord has the option to terminate the office space tenant's leases on a floor-by-floor basis as outlined further in the rent roll, allowing an owner-user or investor to backfill the office space at superior rental rates.
