REBusinessOnline

Venture One Acquires 71,552 SF Industrial Building in Elk Grove Village, Illinois

This rendering shows Venture One’s planned improvements for the property.

ELK GROVE VILLAGE, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VI LP, has acquired a 71,552-square-foot industrial building in the Chicago suburb of Elk Grove Village. The purchase price was undisclosed. The property at 925-1065 Chase Ave. was vacant at the time of acquisition. The building features seven docks, two drive-in doors and parking for 71 cars.

Prior to closing, Venture One received a 6B tax incentive. According to Elk Grove Village, in order to be eligible for 6B, the property must be used for an industrial purpose and one of the following criteria must be met: new construction; buying a building that has been vacant for at least one year; or substantial renovation to an existing building.

Venture One plans to make significant improvements to the property, including office renovations, new paint, parking lot seal coating, energy efficient lighting, roof replacement, landscaping and façade enhancements. Jonathan Kohn and John D’Orazio of Colliers represented the undisclosed seller and will market the property for lease on behalf of Venture One. Venture One’s acquisition fund is a partnership with Kovitz Investment Group.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Webinars on Demand


Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties