A 62,940-square-foot industrial building has been acquired by Venture One Real Estate through its acquisition fund VK Industrial V LP. The property is located at 905 Lakeside Drive, Gurnee, IL, within the Gurnee market. The building, constructed in 1989, is partially leased out, with 35 percent currently occupied by three tenants. It features four docks, six drive-in doors, and a parking capacity for 75 cars. Plans for improvements include renovations in the office and warehouse spaces, resurfacing of the parking lot, and installation of new LED lighting.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Undisclosed
• Address: 905 Lakeside Dr, Gurnee, IL, 60031
• Market: Gurnee
• Seller's Representative: Donald Glyman - Tri-County Commercial Real Estate Inc.
• Buyer: Venture One Real Estate Through its Acquisition Fund VK Industrial V LP
• Year Built: 1989
• Total Square Footage: 62,940
• Leased Percentage: 35%
• Number of Tenants: 3
• Number of Docks: 4
• Drive-in Doors: 6
• Parking Spaces: 75

Donald Glyman from Tri-County Commercial Real Estate Inc. represented the undisclosed seller in the transaction. Robert Elbrecht from Tri-State Realty represented Venture One and will continue to market the property for lease. VK Industrial V LP is a partnership between Venture One and Kovitz Investment Group.