Midwest

ITASCA, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has purchased a 59,735-square-foot industrial building in Itasca for an undisclosed price. Constructed in 1972 and located at 700 District Drive, the facility features clear heights ranging from 18 to 24 feet, three docks, two drive-in doors and parking for 77 cars. Venture One signed a long-term lease with a tenant prior to closing on the property. Jeff Janda of Lee & Associates represented the undisclosed seller, while Cal Payne of CBRE represented Venture One and the tenant. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.

CAROL STREAM AND ELMHURST, ILL. — JLL Capital Markets has negotiated the sales of two Class A industrial assets in Chicago’s North DuPage County submarket for undisclosed prices. Carol Stream Logistics Center in Carol Stream totals 185,796 square feet, while I-290 Distribution Center in Elmhurst spans 150,010 square feet. Kurt Sarbaugh, Ed Halaburt, Sean Devaney and John Huguenard of JLL represented the seller in both transactions. Brian Walsh, Lucas Borges and Matt Stewart of JLL arranged acquisition financing through a life insurance company for I-290 Distribution Center. Constructed in 2020, Carol Stream Logistics Center features a clear height of 32 feet, 190-foot truck court depth, full concrete parking lots, ESFR fire protection and ample trailer parking capacity. The building, situated in the Carol Point Business Center, is fully leased to a single tenant with approximately five years of lease term remaining. Prologis was the buyer. The I-290 Distribution Center, completed in 2022, features a clear height of 32 feet, separate ingress/egress for truck and car traffic, ESFR fire protection, LED motion sensors, a 130-foot truck court, 15 dock-high doors and 138 parking spaces. The property is fully leased to a global packaging manufacturing company.

BOLINGBROOK, ILL. — Colliers has brokered the sale of a three-building industrial portfolio totaling 187,485 square feet in the Chicago suburb of Bolingbrook for an undisclosed price. The properties are located on Territorial Drive within the heart of the I-55 Corridor, which links the Joliet intermodal yards to metro Chicago. The buildings are fully leased to two tenants with a weighted average lease term just under two years. Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the seller, an institutional real estate investor. The buyer was an institutional real estate private equity fund.