Venture One Acquires 62,940 SF Industrial Building in Gurnee, Illinois

by Kristin Harlow

GURNEE, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial V LP, has acquired a 62,940-square-foot industrial building in Gurnee, about 40 miles north of Chicago. The purchase price was undisclosed. Located at 905 Lakeside Drive, the property is 35 percent leased to three tenants. Constructed in 1989, the building features four docks, six drive-in doors and parking for 75 cars. Venture One plans to make improvements that will include office and warehouse renovations, parking lot resurfacing and new LED lighting. Donald Glyman of Tri-County Commercial Real Estate Inc. represented the undisclosed seller. Robert Elbrecht of Tri-State Realty represented Venture One and will be retained to market the property for lease. VK Industrial V LP is a partnership between Venture One and Kovitz Investment Group.

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