CHICAGO, IL – Venture One Real Estate, LLC, through its acquisition fund, VK Industrial III, LP has closed on a 30,000 Square Foot Industrial Building located at 2511-2521 Pan Am Blvd in Elk Grove Village, Illinois and a 59,500 Square Foot Industrial Building located at 900-926 Estes Ct in Schaumburg, Illinois.
2511-2521 Pan Am Blvd has six units with one exterior dock and one drive-in-door per unit. Venture One plans to renovate and refresh the property including energy efficient lighting, office upgrades and façade enhancements.
900-926 Estes Ct is a 59,500 square foot multitenant industrial building that is approximately 70% leased to four tenants. The building has a functional multitenant design with each unit having one exterior dock facing the street and a rear drive-in-door. The building was built in 1980 on 3.5 acres of land and features masonry construction and 14’ clear height.
Planned renovations at 900-926 Estes Court include new paint and carpet in the office, new energy efficient T-8 lighting and a new roof. The tow available units are approximately 9,300 SF each.
Robert DeSalvo of Sierra Realty Services represented the seller in the transaction. Robert DeSalvo has been retained by Venture One to market the property.
Venture One’s VK Industrial funds have acquired over 4,600,000 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.