Venture One Real Estate—through its acquisition fund, VK Industrial IV, LP, a partnership between Venture One and Kovitz Investment Group—has closed on the acquisition of a 78,862 square foot industrial building located at 1001-1043 N. Lombard Road in Lombard, Illinois. The multi-tenant building is currently 86 percent leased to eight tenants.
The 18-foot clear height building was constructed in 1989 and is equipped with 8 docks, 9 grade-level doors and parking for 140 cars. Venture One plans to complete make-ready improvements for the vacant units including office improvements, warehouse paint and adding energy efficient lighting.
Jay Farnam and Jeff Galante of Lee & Associates represented the seller in the transaction and will be retained by Venture One to market the property for lease.