The Boulder Group completed the sale of a single-tenant Andy’s Frozen Custard property at 2630 E. Main St. in Saint Charles, Illinois, for $3.1 million.
The 2,090-square-foot building benefits from its position along East Main Street, which is the primary thoroughfare for Saint Charles and experiences over 37,250 vehicles per day. East Main Street is part of the dense retail corridor occupied by national brands Target, Von Maur, Walmart, Ross, T.J. Maxx, Chase Bank, Starbucks, and many others.
Andy’s Frozen Custard is also located on an outparcel in Foxfield Commons, a shopping center anchored by Goodwill. Additionally, this is an affluent area where the average household income exceeds $173,600 within one mile of the property. Andy’s also benefits from its proximity to Saint Charles East High School which has over 2,200 students enrolled. DuPage regional airport is located several minutes west of the property as well.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both sides in the transaction. The seller was a Midwest based development firm and the buyer was a local real estate group.
The property features a new 15-year lease that commenced in 2023 following the completion of construction. The lease contains a corporate guaranty and is absolute triple net.
