Venture One Purchases 110,063 Square Foot Building in Bloomingdale

Chicago – Venture One Real Estate, LLC, through its acquisition fund, VK Industrial I, LP, has closed on a vacant 110,063 square foot building at 171 Covington Drive in Bloomingdale, Illinois. The building is located just west of Gary Avenue, three miles south of the Elgin/O’Hare Expressway, adjacent to the Stratford Square Mall.
The property was previously occupied by CTS Corporation, and used as a call center and cell phone chip production facility. The high image facility is fully air conditioned, has a 4,000 amp power service, 22’ clear height, fiber availability, low voltage distribution and a 1,500 SF data room. The nearly 8 acre site allows for 3.25/1,000 car parking which can be expanded to over 500 cars.

Venture One will be completing building improvements including a new roof, exterior and interior paint, and new energy efficient lighting. “We are excited about the opportunity to re-introduce 171 Covington to the marketplace. The combination of power, HVAC capacity, data capabilities, parking, location and image make this building a remarkable opportunity for a tenant,” said Matt Goode, Principal with Venture One.

The building will be marketed by Ken Franzese, John Sharpe and John Cassidy of Lee and Associates. According to Franzese, “The building’s unique set of amenities cater to a wide range of tenants in the market including call centers, manufacturing companies, and food companies.”

Lee and Associates represented the Seller in the sale of the Property. Building improvements will be completed by ARCO/Murray National Construction, Inc.

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.