Venture One Purchases 312,154 Square Foot Building in Chicago

Chicago – Venture One Real Estate, LLC in Partnership with DRA Advisors has closed on a 312,154 square foot industrial facility located at 2801 South Western Avenue in Chicago, Illinois. Venture One has plans to fully renovate the facility which is currently vacant.
The building offers a rare combination of modern industrial amenities for an infill City of Chicago location. It features 28’-30’ clear ceilings, 31 exterior loading docks, 5 acres of outside storage, direct rail access and freezer/cooler space. At 28th Street and Western Avenue the building is located in the heart of the industrial food corridor between Damen and California along I-55.

Sally Macoicz of Cushman and Wakefield represented the seller in the transaction. Sally Macoicz, Larry Goldwasser and Colin Green of Cushman and Wakefield will market the facility for Venture One.

“There is strong demand for high clear height, modern industrial real estate in the city, but in recent years there has been a lack of quality product available. With this project we have a combination of modern amenities in a premier Chicago infill location.” said Macoicz.

Venture One’s renovations will include the demolition of the interior truck court, façade enhancements, new energy efficient lights and new HVAC systems. The facility will be divisible to 75,000 square feet.

Venture One’s project team will include Keeley Construction as the general contractor, Jacob and Hefner for civil engineering, Pease Borst and Associates for structural engineering and Ware Malcomb for architectural services.

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.

DRA Advisors

DRA Advisors LLC is a New York-based registered investment advisor with approximately 95 employees specializing in real estate investment management services for institutional and private investors, including pension funds, university endowments, sovereign wealth funds, foundations, and insurance companies.  Since DRA was founded in 1986, the firm has opened additional offices in Miami and San Francisco while acquiring over $38 billion of real estate.  The acquisitions include 85 million square feet of industrial, 65 million square feet of office, 87 million square feet of retail and 85,000 multifamily units.  As of December 31, 2022, DRA has $13.3 billion in gross assets under management. http://draadvisors.com