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Venture One Fund Acquires 37,247 Square Foot Leased Industrial Building in Waukegan, Illinois

February 03, 2022

 

Rosemont, IL – February 3, 2022 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 a 37,247 square foot industrial building located at 1429 Shields Drive in Waukegan, Illinois. The single-tenant precast building is on a short-term lease and will be vacant in December of 2022.

The building was constructed in 2004 and sits on 1.39-acres of land. It features 28’ clear height, 4 exterior docks, 1 drive-in door, an ESFR sprinkler system, and 5,738 square feet of office space. Venture One’s planned improvements include, office renovations, warehouse paint and new energy efficient LED lights throughout.

Chris Volkert, Ned Frank and Pat Hake of Colliers International have been hired to market the property.

 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 families, family offices, institutions, and financial professionals. For more information, please visit www.Kovitz.com.