Venture One Real Estate through its acquisition fund, VK Industrial V, LP, a partnership between Venture One and Kovitz Investment Group, has closed on the acquisition of a 62,940 square-foot industrial building located at 905 Lakeside Drive in Gurnee, Illinois. The property is 35% leased to three tenants.
The multi-tenant building was constructed in 1989 and sits on 3.47-acres of land. The building is demised into seven units. It has 4 docks, 6 drive-in doors, and parking for 75 cars. Venture One’s planned improvements include, office and warehouse renovations, parking lot resurfacing, and new LED lighting throughout. Available units in the building range from 7,309 SF – 16,211 SF.
Donald Glyman of Tri-County Commercial Real Estate, Inc. represented the Seller in the transaction. Robert Elbrecht of Tri-State Realty represented Venture One and will be retained to market the property.