The Boulder Group recently completed the sale of a triple net leased Culver’s property in Crystal Lake, Ill. The restaurant, known for its frozen custard and hamburgers, sold for $1.9 million.
The 4,453-square-foot Culver’s was built in 2003. Retailers near it include Target, Home Depot, Kohl’s and hhgregg.
About five yeears of lease term remain with 3-percent annual rental escalations.
Randy Blankstein and Jimmy Goodman of the Boulder Group represented the seller in the transaction, a private partnership based in Milwaukee. The buyer was an Illinois-based high-net-worth individual.
