Rosemont, IL – December 4, 2024 – Venture One Real Estate, through its acquisition fund, VK Industrial VII, LP, has closed on the acquisition of a 74,975 square foot industrial building located at 951 Lunt Avenue in Elk Grove Village, Illinois. The property was vacant at the time of acquisition.
The property sits on 2.92-acres of land, has 8 docks and parking for 70 cars. Prior to closing, Venture One received a 6B tax incentive from Elk Grove Village. Venture One’s planned make ready improvements include, office renovations, warehouse paint, parking lot seal coating, energy efficient warehouse lights, roof replacement, landscaping, and façade enhancements.
Cal Payne and Matt Mulvihill of CBRE represented the Seller in the transaction and will be retained to market the property for Venture One.
VK Industrial VII is co-sponsored by Venture One Real Estate and Kovitz Investment Group. The fully discretionary fund targets industrial acquisitions in the Chicago, Northeast, and Florida markets.
