CHICAGO, June 24, 2026 /PRNewswire/ — Matterhorn Venture Partners (“MVP”) announced the acquisition of 1949-1951 Arthur Avenue, a 104,394 square foot front load industrial building on approximately 3.7 acres in Elk Grove Village, IL, within Chicago’s O’Hare submarket. Acquired directly from the owner-occupied user, the asset advances MVP’s Chicago value-add strategy, adding significant lease-up upside in one of the nation’s most supply constrained submarkets.

Built in 1986, the property offers two divisible suites of 35,579 and 68,815 square feet, with 18 to 22-foot clear heights, five interior docks, one drive-in door, a 7.5-ton crane, and heavy 1,600-amp power. MVP plans to lease up the suites at market rents, anchored by a $1.4 million capital improvement program covering new exterior facades and paneling, parking lot, landscaping, roof repairs, and paint. Elk Grove Village’s pro-business environment further supports a competitive occupancy cost and long-term rental upside.

O’Hare is the largest and most established industrial submarket in metropolitan Chicago, anchored by its adjacency to O’Hare International Airport and the region’s expressway and tollway network. Limited new supply and durable demand keep the submarket tight, reinforcing the fundamentals underpinning MVP’s investment.

“Elk Grove Village sits at the heart of O’Hare, one of the most supply constrained industrial markets in the country,” said Scott McKibben, Chief Executive Officer of MVP. “A well-located, functional building with a clear lease-up path is exactly the value-add opportunity we target.”

“We acquired the building well below replacement cost and comparable sales in the submarket,” added Tina Ramos, Co-Founder at MVP. “With tight vacancy and limited supply across O’Hare, we see meaningful upside as we lease and reposition the asset.”

The transaction marks MVP’s fifteenth acquisition and seventh in the Chicago MSA, reinforcing its commitment to aggregating high-quality industrial properties across the Midwest.

About Matterhorn Venture Partners

Matterhorn Venture Partners (“MVP”) is a Chicago-based private real estate investment firm acquiring and managing industrial assets nationwide. Since its April 2024 founding, MVP has completed nearly $150 million in deal capitalization across eight states and more than 870,000 square feet, creating value through capital improvements, proactive asset management, and disciplined aggregation. Learn more at www.matterhornvp.com.

Leasing Contact

For leasing inquiries, contact Brian Colson and Brian Pomorski with Avison Young.

Brian Colson – brian.colson@avisonyoung.com

Brian Pomorski – brian.pomorski@avisonyoung.com

Media Contact
Matt Kay
Matterhorn Venture
Partnersmatt@matterhornvp.com

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SOURCE Matterhorn Venture Partners LLC