Marcus & Millichap has completed the disposition of a net-leased Gerber Collision & Glass facility at 5840 W. Ogden Ave. in Cicero, Illinois. The property comprises 18,620 square feet and is configured as a single-tenant auto service asset on a net-lease basis.
The buyer acquired the building as part of a 1031 exchange strategy. According to Marcus & Millichap, the investment is supported by a new 15-year corporate lease with Gerber Collision & Glass, described as an established national, publicly traded tenant. The long-term commitment and corporate guarantee are positioned as core elements of the asset’s investment profile.
Lior Regenstreif, executive managing director of investments with Marcus & Millichap, noted that the trade provides the buyer with a newly renovated property backed by the fresh 15-year lease. Regenstreif cited the location along Ogden Avenue in one of Illinois’s most densely populated communities as a factor contributing to recurring demand for automotive repair services. This demand profile was highlighted as enhancing the asset’s fit for a long-term 1031 exchange investor.
Regenstreif, based in Marcus & Millichap’s Encino office, worked in association with Steven Weinstock, the firm’s Illinois broker of record. Marcus & Millichap held the exclusive listing to market the property on behalf of the seller, identified as the property’s developer. The buying entity was described only as a 1031 exchange investor, with no additional details disclosed.
The building was originally constructed in 1967 as an industrial facility. It was subsequently renovated between 2025 and 2026 and converted for use as a Gerber Collision & Glass location. Following the renovation, the property is now leased to Gerber under a new 15-year, corporate-guaranteed, triple-net lease.
The site spans 1.53 acres, providing land to accommodate the auto service use alongside the existing improvements. The combination of recent capital investment, long-term tenancy and a triple-net structure underscores the property’s positioning as a stabilized, income-producing retail-oriented auto service asset. No sale price or additional financial terms were disclosed in connection with the transaction.
