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Venture One Fund Acquires 160,012 Square Foot Industrial Portfolio in Chicago, MSA

September 5, 2018



ROSEMONT, IL – September 5, 2018 – Venture One Real Estate through its acquisition fund, VK Industrial IV, LP, a partnership between Venture One and Kovitz Investment Group, has closed on the acquisition of a 160,012 square foot, 2-building industrial portfolio located at 1020 Frontenac Road in Naperville and 1850 Greenleaf Avenue in Elk Grove Village, Illinois. 

1020 Frontenac Road in Naperville, Illinois features 23’ clear height, 8 docks, 1 drive-in door, and parking for 79 cars. The 99,773 square foot building is equipped with 2,000 amps of power, wet sprinkler system, and 9,794 SF of office space. The single-tenant building is 100% leased.

 

1850 Greenleaf Avenue in Elk Grove Village, Illinois features, 16’ clear height, 11 exterior docks, 2 drive-in doors and parking for 37 cars. The 60,239 square foot building is equipped with T-5 lighting, wet sprinkler system and 10,460 square feet of office space. The property was vacant at acquisition.

 

Prior to closing, Venture One received a 6B tax incentive for the property. Venture One plans to complete make ready improvements including façade enhancements, landscaping upgrades, office renovations, painting the warehouse as well as parking lot and truck court repairs.

 

Jason Lev, John Suerth and Jimmy Kowalczyk represented the Seller in the transaction and will be retained by Venture One to market the 1850 Greenleaf Property.

 

Venture One Real Estate
Venture One Real Estate is a real estate private equity fund manager, developer and operating company specializing in the industrial property sector. Headquartered in Chicago, Venture One manages a series of discretionary value-add investment funds that target opportunities throughout the Midwest. Venture One owns over 5.3 million square feet and controls over 1,100 acres of land in corporate business parks in the greater Chicagoland area. Principals of Venture One have over $6 billion of transactional experience. For further information go to www.VentureOneRE.com.

 

Kovitz Investment Group
Kovitz Investment Group® (KIG), is an independently-managed, registered investment adviser, founded in 2003. KIG is dedicated to providing best-in-class investment and wealth management solutions for high net worth individuals and their families, family offices, institutions, and financial professionals. For more information, please visit www.Kovitz.com.