CHICAGO, IL – Venture One Real Estate, LLC through its acquisition fund, VK Industrial III, LP, has closed on a single tenant 32,757 square foot industrial building at 889 North Larch Avenue in Elmhurst, Illinois.
The property is located just north of I-290 between York Road and Route 83, less than one mile from each interchange. The masonry building was built in 1968 on 1.9 acres of land. Extra land is available behind the building for expandable parking, storage, or building expansion. Amenities at the property include four interior loading docks, one drive-in-door and 3,364 square feet of office.
The single tenant building is currently available for lease or sale. Venture One will be completing extensive renovations including new paint and carpet/tile in the office, new energy efficient T-8 lighting.
Justin Lerner and Joseph Karmin of Transwestern represented the Seller in the transaction. They have been retained by Venture One Real Estate to market the building for lease or sale.
Venture One’s VK Industrial funds have acquired over 4,700,000 square feet of industrial property in over 50 separate transactions in the Chicago market since opening in September of 2010.
Venture One Real Estate, LLC is a Chicago-based national commercial real estate company that acquires, develops, leases, and manages industrial properties on its own behalf and on behalf of investment partners. Venture One also provides real estate advisory services to buyers and sellers of investment properties and portfolios on a national basis.