Rosemont, IL – October 7, 2022 – Venture One Real Estate through its acquisition fund, VK Industrial VI, LP, a partnership between Venture One and Kovitz Investment Group, has closed on the acquisition of a 71,552 square-foot industrial building located at 925-1065 Chase Avenue in Elk Grove Village, Illinois. The property was vacant at the time of acquisition.
The single-tenant building sits on 2.78-acres of land. The building features 7 docks, 2 drive-in doors, and parking for 71 cars. Prior to closing, Venture One received a 6B tax incentive for the property. Venture One has planned significant improvements for the property, including office renovations, warehouse paint, parking lot seal coating, energy efficient warehouse lights, roof replacement, landscaping, and façade enhancements.
Jonathan Kohn and John D’Orazio of Colliers International represented the Seller in the transaction and will be retained to market the property for Venture One.