What started out as a small local Mexican luncheonette on the corner of Evans and Gilpin has become a casual dining chain giant.

Chipotle Mexican Grill has gone public and is creating a profitable outlet for savvy investors.

On its first day on Wall Street, the IPO doubled in value, rising from $22 to $44 per share.

“It’s clearly one of the most publicized [IPOs],” said Professor of Finance Maclyn Clouse. “There hasn’t been an excitement like this since the markets crashed in the early 2000s.”

Clouse said that it’s refreshing to see an entrepreneurship gain rewards after hard work. “It’s getting us back to the excitement when a real company went public.” Clouse said it’s less common nowadays for businesses to be so successful on their own, especially in a dot-com era. “They [Chipotle] are going up for the right reasons – real people, real product.”

This “real product” has been a hit since the first Chipotle opened in October 1993. Emily Anna Gabriel, manager of the Evans Chipotle, said Chipotle’s business has always been strong.

“Most restaurants tend to level off at some point,” she said. “We’ve been able to maintain positive sales.”

Gabriel explained that a consistent delivery of good food may be the source of the chain’s popularity.

“With such a simple menu, it’s hard to go wrong. We basically have two items – burritos or tacos,” she said.

Chipotle has only made slight changes in its menu since the Evans bistro opened by adding burrito bowls or salads. In addition, they push for better ingredients and natural meat.

Gabriel said that Chipotle going public hasn’t affected her or her work personally. “We’ve kept our corporate culture,” she said.

According to Gabriel, Chipotle holds more of an independent management even though McDonald’s bought a 91 percent stake in the company in 1998.

This buy-out benefited both companies and gave Chipotle the initial resources for quick expansion.

Now Chipotle’s popular items are known not just a regional product.

“They’ve proven not just like Coloradoans like burritos,” Clouse said.

Clouse remembers the first time he realized how successful Chipotle was becoming.

It was the first year it was open, and one of the Denver papers had written a weekend article about their meal-sized burritos. “I decided to try it that Monday and the line was out the door.”

The University of Denver community has been loyal to the chain. “We have a lot of regulars. It’s hard to keep track of them,” said Gabriel.

“[The Evans location] was a good store to start out with. It gave us a certain word of mouth,” she said.

One of their positive aspects, she said, is that the company tailors themselves to whatever community they are in.