1313 Lake St Aurora, IL 60506

This exceptional investment opportunity presents a fee-simple, 10,234 square foot retail property located at 1313 N Lake St, Aurora, IL 60506. The property, built in 1986 and renovated in 2004, features a Class C building on a 1.17-acre lot with B-1 zoning. Currently 100% occupied by two tenants, Gerber Collision & Glass and Classic Towing, the property generates a substantial net operating income (NOI) of $166,044, representing an 8.50% cap rate. The asking price is $1,953,460, or $190.88 per square foot. Gerber Collision & Glass, a long-term tenant since 2006, has a net lease (NN+) in place until December 31, 2025, with four five-year lease options. Their lease includes a 10% rent increase every five years. Classic Towing also enjoys a long-term presence at the location. The property benefits from its strategic location in a high-traffic area of Aurora, Illinois, near numerous national credit tenants and a population of approximately 200,000 within a five-mile radius, boasting an average household income of $100,000. This presents a strong opportunity for investors seeking a stable, high-yield investment with significant upside potential. The property is suitable for a 1031 exchange.