Venture One Acquires 60,900 Square Feet Building in Wheeling, IL

Rosemont, IL – January 26, 2016 – Venture One Real Estate, LLC through its acquisition fund, VK Industrial III, LP, has acquired a 60,900 square foot vacant industrial building at 1019 Noel Avenue in Wheeling, Illinois.
The single tenant industrial building sits on a 2.8 acre site and is located just west of I-294 between Dundee and Palatine Road. Amenities of the building include four loading docks, three drive-in-doors, 17’ – 19’ clear height, and 7,500 square feet of high-image office.

Venture One obtained a 6B tax incentive from the Village of Wheeling and has plans to extensively renovate the building. Upgrades will include the demolition of interior warehouse walls, new energy efficient lights, paint in the office and warehouse, as well as a resurfaced parking lot.

Randy Olczyk and Ray Okigawa of Chicagoland Commercial Real Estate represented Venture One on the acquisition and will be retained to continue marketing the facility for lease or sale. Terry Grapenthin and Ryan Kehoe of Lee and Associates represented the seller.

Venture One Real Estate

Venture One 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 Chicago MSA and Northeast Industrial Region. Principals of Venture One have over $7 billion of transactional experience. For further information go to www.VentureOneRE.com.