Rosemont, IL – September 22, 2020 – Venture One Real Estate through its acquisition fund, VK Industrial V, LP, a partnership between Venture One and Kovitz Investment Group, has closed on the acquisition of an 126,086 square foot, 4-building industrial portfolio located at 401 Eastern Avenue, 501 Eastern Avenue, and 1231 Ellis Street in Bensenville, Illinois and 635 Remington Road in Schaumburg, Illinois. The portfolio is 92% leased to seven tenants.
The portfolio consists of three fully leased single tenant properties in the coveted DuPage County side of the O’Hare submarket. The properties’ amenities include heavy car parking, heavy power, air-conditioned warehouse space and good loading.
635 Remington is a functional multi-tenant building located under two miles from the intersection of I-90 and I-53 in Schaumburg. The building is 82% leased. Venture One will be completing make ready improvements to the 9,507 SF vacant space. The work will include demolition of extra office space, paint, carpet, and new lighting.
Eric Fischer of Cushman & Wakefield represented the Seller in the transaction and will be retained by Venture One to market the vacancy.
Venture One Real Estate
Venture One Real Estate 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 greater Chicago and New Jersey regions. 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 familes, family offices, institutions, and financial professionals. For more information, please visit www.Kovitz.com.