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 73,169-square-foot industrial building located at 1540 S. Ashland Avenue in Chicago. The building is currently 95 percent leased to five tenants.
The property has five industrial units ranging from 8,642 to 25,216 square feet and one vacant 3,744-square-foot office unit. The building is equipped with four docks, 12 drive-in doors and off-street parking for 70 cars. Venture One’s planned improvements to the property include a roof replacement and parking lot overlay.
Venture One’s VK Fund V was closed in late 2019 and has over $300 million of buying capacity. The fund will target industrial acquisitions in Chicago and the Northeast Region.