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Venture One Fund Acquires 67,310 Square Foot Industrial Building in Chicago, Illinois

May 23, 2017

ROSEMONT, IL – May 23, 2017 – 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 67,310 square foot industrial building on 2.07 acres located at 1112 N Homan Avenue in the Humboldt Park neighborhood of Chicago, Illinois. The property was vacant at acquisition.

The building has 3 loading docks, 2 drive-in doors and parking for 50 cars. Venture One will be renovating the office and warehouse and adding high efficiency lighting throughout. The property comes with 4 city lots across the street which can be used for additional storage or parking. 

“Many of Chicago’s historically industrial neighborhoods such as the West Loop, Goose Island and Clybourn Corridor are being redeveloped for alternative uses such as retail, mixed use and office which is leading to a lack of functional industrial product within the city limits. We believe that there is a great opportunity to reposition well located, functional industrial buildings, like 1112 N Homan, for modern industrial users such as last-mile ecommerce tenants, companies looking for access to labor, and industrial tenants being displaced out of these changing neighborhoods,” said Matt Goode, Principal with Venture One Real Estate.

Larry Goldwasser, Colin Green and Matt Cowie of Cushman & Wakefield will market the property for Venture One.

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.