Storage Facility in Lake Zurich, IL - First Investment in Growth 2017 Fund
Our first investment in the Growth 2017 Series is a self storage facility in Lake Zurich, IL.
The property located at 500 E. Main Street in Lake Zurich, IL is in a well-established area with excellent demographics. The existing structure is an 88,108 sf single story warehouse located on 8.9 acres of which 47,961 sf is leased through 2018.
The property offers superior visibility and access on Main Street, a major commercial thoroughfare with traffic counts in excess of 18,000+ cars per day.
The intended re-use of this property is for a class A self-storage, climate-controlled facility with drive-thru accessibility for loading. Additionally, there will be approximately 86,000 net rentable sq. ft. of self storage space, delivered to market in two phases over 24 months.
ROC Lake Zurich LLC will have a 40% interest in Lake Zurich Storage LLC, the entity being formed to acquire the property for $3.4M.