Gerber Collision & Glass

For Sale

1313 N Lake St, Aurora, IL 60506

This Aurora property for sale is located at 1313 N Lake St. The general use of Gerber Collision & Glass is retail and it incorporates 10,234 square feet of class B retail space. The current listed sale price for Gerber Collision & Glass is $1,953,460. Gerber Collision & Glass is situated on a lot that is 1.17 acre in size.

Contacts

broker

Payman Mahjoory

Fortis Net Lease

Property Details

  • Property Type Retail
  • Property Size 10,234 SF
  • Lot Size 1.17 Acre
  • Additional Rent Contact for pricing
  • Property Tenancy Single Tenant
  • Building Class B
  • Year Built 1986
  • Year Renovated 2004
  • Date Updated Oct 7, 2024
Aurora, Illinois, is the second most populous city in the state, located about 40 miles west of Chicago. Founded in 1834, Aurora has grown from a modest village along the Fox River into a vibrant city known for its diverse community, historical landmarks, and strong industrial base. The city's rich history is reflected in its well-preserved architectural gems, including the Paramount Theatre and the Leland Tower, one of the tallest buildings in the area. Aurora's downtown area, known as "The City of Lights," was one of the first in the United States to implement an all-electric street lighting system, earning it its nickname. Today, Aurora boasts a thriving economy, bolstered by a mix of manufacturing, technology, and service industries. The city is also a cultural hub, offering residents and visitors a variety of attractions such as the Aurora Regional Fire Museum, Phillips Park Zoo, and the SciTech Hands-On Museum. Educational institutions, like Waubonsee Community College and Aurora University, provide excellent opportunities for higher learning. With its extensive park system, numerous festivals, and family-friendly atmosphere, Aurora continues to be a dynamic and welcoming community.Fortis Net Lease proudly presents this prime Gerber Collision property nestled in Aurora, Illinois, just 20 miles west of Downtown Chicago. Aurora, renowned for its high livability and safety, is a sought-after location in Illinois. This property boasts dual rental income streams from Gerber Collision and Classic Towing, with a mutually advantageous relationship between the two entities enhancing their coexistence. Investors will realize a 10% rent increase from Gerber by the end of 2025, while Classic Towing's yearly lease arrangement offers significant potential to boost Net Operating Income (NOI) and achieve an exceptional Cash on Cash return. Gerber has occupied this property for two decades and their dedication is highlighted by their proactive lease amendment, which includes four additional five-year extension options, underscoring their commitment to this location. With approximately 200,000 residents residing within a five-mile radius of Aurora and an average household income of $100,000, this property is strategically positioned in a bustling area teeming with National Credit Tenants like AutoZone, Meineke, Firestone, Starbucks, Sherwin Williams, Five Below, and many Quick Service Restaurants.

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Highlights

  • • Leased to Gerber Collision: 900+ Locations in the U.S. Second largest Multi-Shop Operator (MSO) in the Collision Industry
  • • Tenant Commitment to Location: Gerber amended original lease in 2020 and added four (4) additional five (5) year extensions through 12/31/45 with 10% Rent Bumps Every 5 Years
  • • Market Dominance: Gerber has been at this location for 20 Years with direct frontage on Illinois Route 31 (N Lake Street) with over 22,000 Vehicles Per Day
  • • Recession Resistant Business: Over 290 millions vehicles on the road; distracted driving is on the rise, spurring demand
  • • Major National Retailers in the Area: AutoZone, Meineke, AAMCO, Firestone, Starbucks, Dunkin, Sherwin Williams & More
  • • Strong Demographics: Aurora is approximately 20 Miles West of Downtown Chicago and considered one of the best places to live in Illinois and one of the safest cities in the United States. Nearly 200,000 residents within 5 miles; Average HH income within 5 miles is approximately $100,000

Attachments

Getting around

  • 54/100

    Walk Score ®

  • 25/100

    Transit Score ®

  • 59/100

    Bike Score ®

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Location

  • City Aurora, IL
  • Neighborhood Beau Ridge
  • Zip Code 60506
  • Market Chicago

Points of Interest

  • Aurora

    1.82 miles

  • Route 59

    5.74 miles

  • Geneva

    6.61 miles

  • La Fox

    8.42 miles

  • Naperville

    8.95 miles

  • West Chicago

    9.04 miles

  • Speedway

    0.24 miles

  • Thorntons

    0.27 miles

  • Mobil

    0.43 miles

  • BP

    1.29 miles

  • Shell

    1.78 miles

  • Aurora Supercharger

    1.85 miles

  • Casey's

    2.19 miles

  • Tesla Supercharger

    2.88 miles

  • Tesla Destination Charger

    4.57 miles

  • Aurora IL-59 Supercharger

    5.86 miles

  • Parking Lot A

    0.16 miles

  • Parking Lot J

    0.26 miles

  • Parking Lot B

    0.26 miles

  • Parking Lot D

    0.27 miles

  • Parking Lot I

    0.32 miles

  • Parking Lot C

    0.34 miles

  • Parking Lot H

    0.35 miles

  • Ascension Mercy Medical Center - Parking Lot D

    0.38 miles

  • Parking Lot G

    0.38 miles

  • Parking Lot F

    0.41 miles

  • El Jefe

    0.16 miles

  • Wingstop

    0.21 miles

  • Culver's

    0.32 miles

  • White Castle

    0.34 miles

  • Dunkin'

    0.34 miles

  • Popeyes

    0.35 miles

  • Taco Bell

    0.38 miles

  • Denny's

    0.39 miles

  • Vietnam Gate

    0.47 miles

  • Nikarry's

    0.49 miles

  • Ross

    0.21 miles

  • Cermak Fresh Market

    0.26 miles

  • Super Mercados El Guero

    1.98 miles

  • JCPenney

    2.29 miles

  • ALDI

    2.30 miles

  • Target

    2.50 miles

  • Chicago Premium Outlets

    2.60 miles

  • Saks Fifth Avenue

    2.71 miles

  • Saks Off 5th

    2.73 miles

  • Walmart Supercenter

    2.78 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Payman Mahjoory

Fortis Net Lease