Matterhorn Venture Partners Expands Chicago Industrial Footprint with Romeoville Acquisition
Matterhorn Venture Partners (MVP) has acquired a 16,500-square-foot small-bay industrial property located at 805 Forestwood Drive in Romeoville, Illinois.
The single-building asset, constructed in 1998, was purchased through a limited marketing process and presents a value-add opportunity. The property comprises four suites featuring both dock-high and drive-in loading options, functional clear heights, and convenient access to I-55 and I-355. Currently, the building includes one vacant suite, and in-place rents are approximately 30% below market rates.
This latest acquisition marks MVP’s tenth overall transaction and its third in the Chicago metropolitan area.
Following the acquisition, Matterhorn plans to implement targeted improvements, including addressing deferred maintenance, updating interior spaces, and pursuing proactive leasing strategies to bring rents in line with market levels.
“This acquisition exemplifies our approach — identifying well-located, functional small-bay industrial assets with clear potential to create value,” said Scott McKibben, Chief Executive Officer of Matterhorn Venture Partners. “The I-55 Corridor continues to demonstrate strong fundamentals and minimal vacancy, making this a great addition to our growing Chicago portfolio and overall investment thesis.”
