CHICAGO – Venture One Real Estate, LLC, through its acquisition fund, VK Industrial I, LP, has closed on a 78,775 square foot flex facility, located at 2401-2441 Commerce Drive in Libertyville, Illinois announced Matt Goode, Principal of the Chicago-based real estate investment and development firm. The building was purchased from Lincoln Commerce Center Properties, LLC who was represented by Patrick J. Sullivan of Converse Capital in Lake Forest, Illinois. “The Venture One team was a pleasure to work with. The transaction closed 37 days from contract execution,” said Sullivan.
The building is located in Lincoln Commerce Center just west of the intersection of Route 137 and Lake Street. Constructed in 1994, it is fully air conditioned and features a 1600 amp power service, 260 car parking and fully installed fiber optics.
The facility is approximately 43% leased to A-S Medication Solutions, LLC who occupies 34,000 square feet. The remaining 44,775 square feet, which is divisible down to 10,000 square feet is being marketed for lease to both office and flex/warehouse users. Sam Badger, Whit Heitman and Brad Weiner of Paine/Wetzel have been hired to market the facility for Venture One. According to Goode, the building will undergo some minor renovations including parking lot resurfacing, exterior painting as well as office and warehouse remodeling.
Venture One Real Estate, LLC, is a Chicago-based national commercial real estate company that invests, owns and develops industrial buildings and land and provides advisory and investment-sale marketing services to third parties across the country.