Venture One Acquires 122,601 SF Multi-Tenant Industrial Building in Waukegan, Illinois

ROSEMONT, IL — Venture One, through its acquisition fund VK Industrial VII, LP, has closed on the purchase of a 122,601-square-foot multi-tenant industrial building at 3210 Oak Grove Avenue in Waukegan, Illinois, the firm announced April 22, 2026.

The property was 66% leased at the time of closing, leaving one vacant unit of 41,838 square feet available for lease. No sale price was disclosed.

Industrial Real Estate Acquisition Details

The precast industrial building was constructed in 2006 and is currently demised into three units. The property features 30-foot clear height, 12 exterior docks, three drive-in doors, an ESFR sprinkler system, and parking for more than 125 vehicles.

The available unit totals 41,838 square feet, including approximately 2,839 square feet of office space. That unit offers access to four exterior docks, one drive-in door, and 1,200 amps of power.

Planned Warehouse and Office Renovations

Venture One plans to complete several make-ready improvements to the vacant unit. Planned work includes office renovations, warehouse lighting upgrades, and bathroom and breakroom renovations.

Brokerage and Leasing Assignments

Joe Horrigan, Zach Graham, and Ryan Bain of CBRE represented the seller in the transaction. Whit Heitman and Jack Fitzpatrick, also of CBRE, have been retained to market the vacant unit for lease.

About VK Industrial VII and Venture One Real Estate

VK Industrial VII is co-sponsored by Venture One Real Estate and Kovitz Investment Group. The fully discretionary fund targets industrial real estate acquisitions in the Chicago, Northeast, and Florida markets. Venture One is headquartered in Rosemont, Illinois, and maintains regional offices in East Rutherford, New Jersey, and Fort Lauderdale, Florida.

Sources

Venture One Real Estate — Official Announcement