Rosemont, IL – July 8, 2019 – Venture One Real Estate through its acquisition fund, VK Industrial IV, LP, a partnership between Venture One and Kovitz Investment Group, has closed on the acquisition of a 78,862 square foot industrial building located at 1001-1043 N Lombard Road in Lombard, Illinois. The multi-tenant building is currently 86% leased to eight tenants.
The 18’ clear height building was constructed in 1989 and is equipped with 8 docks, 9 grade level doors and parking for 140 cars. Venture One plans to complete make ready improvements for the vacant units including, office improvements, warehouse paint and adding energy efficient lighting.
Jay Farnam and Jeff Galante of Lee & Associates represented the seller in the transaction and will be retained by Venture One to market the property for lease.
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.
Kovitz Investment Group
Kovitz Investment Group® (KIG), is an independently-managed, registered investment adviser, founded in 2003. KIG is dedicated to providing best-in-class investment and wealth management solutions for high net worth individuals and their families, family offices, institutions, and financial professionals. For more information, please visit www.Kovitz.com.