ROSEMONT, IL – March 22, 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 76,725 square foot industrial building on 3.52 acres located at 4012 Morrison Drive in Gurnee, Illinois. The property is currently vacant.
Venture One purchased the mortgage and note securing the property and took title through the foreclosure process.
The building features 22’ clear height, an ESFR sprinkler system, 3,600 amps of power, 4 docks, 3 drive-in doors and 3,967 square feet of office space. Additionally, the Property has 0.40 acres of additional land that is fenced and paved for outside storage. Venture One plans to complete renovations including updating the office space, installing energy efficient warehouse lighting, painting the warehouse, repaving the parking lot and replacing the roof.
Tom Boyle of Transwestern represented Venture One in the transaction and will continue to market the property for sale or lease.
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. Venture One targets investment and development opportunities in Chicago and throughout the Midwest. Principals of Venture One have over $6 billion of transactional experience. For more information please visit 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.