ROSEMONT, IL – November 15, 2017 – 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 55,276 square foot industrial building on 6.51 acres located at 3300 16th Street in Zion, Illinois.
The 24’ clear, precast building has 7 loading docks, 1 drive-in door and parking for 74 cars. The property is equipped with an ESFR sprinkler system, T-5 Lighting and 3.44 acres of land that can be used for a building expansion or converted into parking or outside storage.
Following a short leaseback with the seller, the building will be available for lease in April of 2018.
Sergio Chapa and Mike Prost of Newmark Knight Frank represented the seller in the transaction and will be retained by Venture One 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 Midwest.Venture One owns over 5.3 million square feet and controls over 1,100 acres of land in corporate business parks in the greater Chicagoland area. Principals of Venture One have over $6 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.