Rosemont, IL – October 2, 2023 – Venture One Real Estate through its acquisition fund, VK Industrial VI, LP, has closed on the acquisition of a 63,382 square foot industrial building located at 7333 Lockwood Avenue in Bedford Park, Illinois. The property was vacant at the time of acquisition.
The single-tenant building sits on 2.31-acres of land. The building features 6 docks, 1 drive-in door, parking for 43 cars and a 2-ton crane. Prior to closing, Venture One received a 6B tax incentive for the property from Bedford Park. Venture One’s planned make ready improvements include, office renovations, warehouse paint, parking lot paving, installing energy efficient warehouse lights, replacing the current roof system and upgrading the sprinkler system.
Rowan McDonnell, Traci Payette and Stephanie Park 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.