CHICAGO—Free Market Ventures, along with its partner Second City Real Estate, recently acquired 6400 Shafer Court, a transit-oriented office building located in the O'Hare Chicago office submarket. The 179,442-square-foot, eight-story building in Rosemont was built in 1980 and subsequently renovated in 1991, 2006 and 2015. The price was not disclosed, but Cook County property records show the new owners paid $17.915 million, a significant boost over the $10.7 million paid for it in 2012.
FMV was founded in 2013, and this acquisition was part of its initial discretionary fund, FMV Fund I. The Chicago-based company analyzes potential deals across the US, and aims to acquire a diverse real-estate portfolio including investments in secured debt, liens, real estate technology, medical marijuana warehouses, land and office.
“Our principals have institutional experience in a variety of real estate projects and therefore look for opportunities based on creating value not by asset class,” principal Jack Buck tells GlobeSt.com.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
