Venture One Real Estate LLC, through its acquisition fund, VK Industrial I, LP, has closed on an 18,768-square-foot building on 4.77 acres at 11351 W. 183rd St. in Orland Park.
The property is located in Will County, approximately two miles west of the I-80 LaGrange Road interchange and 3.5 miles from I-355. The building had been vacant, and simultaneous to closing Venture One executed a long-term lease for the entire facility with Insituform Technologies USA LLC, a subsidiary of Aegion Corp. Terry Grapenthin and Josh Hearne of Cawley Chicago represented the seller in the transaction. Jim Estus of Colliers International and Daniel Wessel of Lee and Associates of St. Louis represented Insituform in the lease transaction.
The building was built in 2004 and features six drive-in-doors, 20-foot clear height, warehouse floor drains and a 2 acre fenced storage yard.
Venture One’s VK Industrial fund has acquired approximately 1.3 million square feet of industrial property in 20 separate transactions in the Chicago market since opening in September of 2010.