Rosemont, IL – January 13, 2021 – Venture One Real Estate through its acquisition fund, VK Industrial V, LP, a partnership between Venture One and Kovitz Investment Group, has closed on the acquisition of a 17,900 square-foot industrial building located at 1161 S. Northpoint Boulevard in Waukegan, Illinois. The property was vacant at acquisition.
The single tenant building was constructed in 2000 and sits on 1.10 acres of land. It has 2 exterior docks, 1 drive-in door, 31 car parking, and approximately 2,476 square feet of office. Venture One’s planned improvements include office renovation, demolition, exterior and interior paint, warehouse lights, and general cleanup.
Ralph Huszagh of JC Forney Realty, Inc. represented the Seller in the transaction and will be retained by Venture One to market the property.
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.
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.