Rosemont, IL – November 16, 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 38,989 square-foot industrial building located at 1200 Chase Avenue in Elk Grove Village, Illinois. The property was vacant at the time of acquisition.
The single-tenant building sits on 2.00-acres of land. The building features 2 docks, 2 drive-in doors, and parking for 63 cars. Prior to closing, Venture One received a 6B tax incentive for the property from Elk Grove Village. Venture One’s planned make ready improvements include, office renovations, warehouse paint, parking lot seal coating, energy efficient warehouse lights, landscaping and façade enhancements.
Justin Lerner, Joe Karmin and Ross Lehrman of Transwestern represented the Seller in the transaction and will be retained to market the property for Venture One.