Venture One Completes Acquisition in Chicago's Kinzie Corridor

Venture One Real Estate, through its acquisition fund VK Industrial VII, LP, has successfully acquired a substantial industrial property in the Kinzie Industrial Corridor in Chicago, Illinois. The property, a 56,068 square foot building on 1.78 acres of land, was vacant at the time of purchase. Located strategically close to major transport links and the Central Business District, the site offers significant advantages in terms of accessibility to Chicago's skilled labor pool. Planned upgrades by Venture One include renovations to offices, painting of the warehouse, and infrastructural updates such as energy-efficient lighting and roof replacement. The property, falling under PMD-4A zoning, represents a strategic investment for VK Industrial VII, a fund co-sponsored by Venture One and Kovitz Investment Group, which targets industrial acquisition opportunities in the Chicago, Northeast, and Florida areas. The transaction was facilitated by JLL, who represented the seller, while CBRE has been appointed to manage the sale or leasing of the property.