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1313 N Lake St Aurora, IL 60506

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Dual-income property with long-term tenants in a high-traffic location.

Type:Retail
Property size:
10,234 SF
Added:
Aug 5, 2024
Days on Market:
622
Last Refresh:
Mar 17 at 1:26 pm

Property Features for 1313 N Lake St

General Information

Standard status
Active
Size
10,234 SF
Property subtype
Retail

Building Details

Year Built
1986

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Listing Contact
Robert Bender

Listing agent Robert Bender License #MI 6501323470

Listing office Fortis Net Lease

Listing date Aug 5, 2024

Source Crexi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Fortis Net Lease


Overview

Prime Aurora Investment Property

Located in Aurora, Illinois, approximately 20 miles west of Downtown Chicago, this property features dual rental income streams from Gerber Collision and Classic Towing, who share a mutually beneficial relationship. Gerber Collision has been operating at this location for two decades. Their commitment to the site is demonstrated by a proactive lease amendment, which includes four additional five-year extension options. Classic Towing has also been at this location for over 20 years. Gerber Collision's rent is scheduled to increase by 10% on January 1, 2026. The yearly lease arrangement with Classic Towing offers the potential to increase Net Operating Income (NOI) and achieve a strong Cash on Cash return. The property is situated in a high-traffic area with approximately 200,000 residents within a five-mile radius and an average household income of $100,000. The surrounding area features National Credit Tenants such as AutoZone, Meineke, Firestone, Starbucks, Sherwin Williams, Five Below, and various Quick Service Restaurants. The property is located in Aurora, the second most populous city in Illinois, approximately 40 miles west of Chicago.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Gerber Collision & Glass Auto Repair Shop Classic Towing (Aurora) Auto Repair Shop SCR Towing & Recovery ... Auto Repair Shop

Suggested Use

Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

  • Diamond Tier tint 582 2nd Ave, Aurora, IL 60505
  • Baeza Auto Repair Aurora 544 E Benton St, Aurora, IL 60505
  • The Car Doctor 554 S Lake St, Aurora, IL 60506
  • George's Auto Services 544 E Benton St, Aurora, IL 60505
  • I NEED ROADSIDE ASSISTANCE-AURORA

Location Insight

  • Map
  • Local Demand
City
Aurora
County
Kane
State
Illinois
Longitude
-88.3192739
Latitude
41.7861617

FAQs

What type of property is this?
Auto shop - Dual-income property with long-term tenants in a high-traffic location.
Where is this auto shop located?
The property is located at 1313 N Lake St Aurora, IL.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Dual income streams from Gerber Collision and Classic Towing, providing financial stability.; Gerber Collision's long‑term commitment with 20 years of occupancy and lease amendment including four, five‑year extension options.; 10% rent increase from Gerber Collision on January 1, 2026.
More about this property
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