CHICAGO, IL – Venture One Real Estate through its acquisition fund, VK Industrial III, LP, has closed on two industrial buildings in the Stockyards Industrial Park in Chicago, Illinois. 830 and 900 W 40th St are two single tenant industrial buildings totaling 75,500 and 48,960 square feet. The two buildings sit on a 7.08 acre secured site.
The 900 W 40th building is 100% leased to GE Zenith Controls.
The 75,500 square foot 830 W 40th Street building is available for lease. The property offers rare amenities for the location including heavy power, high quality office space, and 150 car parking on a 5 acre secure site. Venture One will renovate and refresh the property by installing new carpet, paint, windows, and energy efficient lighting.
George Maragos of CBRE represented the seller in the transaction. George Maragos along with Mitch Adams have been retained by Venture One to market the 830 W 40th building.
“The properties are unique in that they sit on a secure, paved 7 acre parcel within the stockyards. There is currently a shortage of available space in the city for industrial users looking for extra land for car parking, trailer parking or outside storage,” said Maragos.
Venture One’s VK Industrial funds have acquired over 5,000,000 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.