Rosemont, IL – April 8, 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 73,169 square foot industrial building located at 1540 S Ashland Avenue in Chicago, Illinois. The multi-tenant building is currently 95% leased to five tenants.
The property has 5 industrial units ranging from 8,642 to 25,216 square feet and one vacant 3,744 square foot office unit. The building is equipped 4 docks, 12 drive-in doors and off-street parking for 70 cars. Venture One’s planned improvements to the property including a roof replacement and parking lot overlay.
Nick Saraceno of CTK Chicago Partners represented the Seller in the transaction. Venture One was represented by Vern Schultz and Alex Kritt of Colliers International.
Venture One’s VK Fund V was closed in late 2019 and has over $300 million of buying capacity. The Fund will target industrial acquisitions in Chicago and the Northeast Region.
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.