Venture One Fund Acquires 37,247 Square Foot Leased Industrial Building in Waukegan, Illinois

2/3/22

Venture One Fund Acquires 37,247 Square Foot Leased Industrial Building in Waukegan, Illinois

Rosemont, IL - February 3, 2022 - 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 37,247 square foot industrial building located at 1429 Shields Drive in Waukegan, Illinois. The single-tenant precast building is on a short-term lease and will be vacant in December of 2022.
The building was constructed in 2004 and sits on 1.39-acres of land. It features 28' clear height, 4 exterior docks, 1 drive-in door, an ESFR sprinkler system, and 5,738 square feet of office space. Venture One's planned improvements include, office renovations, warehouse paint and new energy efficient LED lights throughout.

Chris Volkert, Ned Frank and Pat Hake of Colliers International have been hired to market the property.

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