Rosemont, Il – July 25, 2023 – Venture One Real Estate through its acquisition fund, VK Industrial VI, LP, has closed on the acquisition of a 6,000 square foot industrial building located at 1111 N. 30th Avenue in Melrose Park, Illinois. The property was vacant at the time of acquisition.
The single-tenant building sits on 0.89-acres of land. The building features 1 exterior dock, 1 drive-in door, floor drains with a triple catch basin, two exhaust fans and additional land for outdoor storage or trailer parking. Prior to closing, Venture One received a 6B tax incentive for the property from Melrose Park. Venture One’s planned make ready improvements include, office renovations, warehouse paint, parking lot paving and energy efficient warehouse lights.
Larry Goldwasser and John Marks of CBRE represented the Seller in the transaction and will be retained to market the property for Venture One.
VK Industrial VI is co-sponsored by Venture One Real Estate and Kovitz Investment Group. The fully discretionary fund targets industrial acquisitions in the Chicago, Northeast and Florida markets.
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 greater Chicago, Northeast and Florida markets. For further information go to www.VentureOneRE.com.