Rosemont, Il – November 16, 2021 – 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 38,989 square-foot industrial building located at 1200 Chase Avenue in Elk Grove Village, Illinois. The property was vacant at the time of acquisition.
The single-tenant building sits on 2.00-acres of land. The building features 2 docks, 2 drive-in doors, and parking for 63 cars. Prior to closing, Venture One received a 6B tax incentive for the property from Elk Grove Village. Venture One’s planned make ready improvements include, office renovations, warehouse paint, parking lot seal coating, energy efficient warehouse lights, landscaping and façade enhancements.
Justin Lerner, Joe Karmin and Ross Lehrman of Transwestern represented the Seller in the transaction and will be retained to market the property for Venture One.
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. 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.