Developer seeks to annex nearly 60 acres in Geneva for warehouse, distribution center
An industrial developer is seeking to annex nearly 60 acres at the northeast corner of Kirk Road and Fabyan Parkway and build a warehouse and distribution center to be called Venture Park Geneva, according to records filed with Geneva's Community Development Department.
Venture One Real Estate of Rosemont requested an amendment to the comprehensive plan from rural single-family residential to light industrial, annexation and rezoning to light industrial, records show.
The company updated its filing on Jan. 24. It made its initial filing last year on Sept. 16, and Oct. 31, records show.
The 57.59 acres is to be developed with a 719,200-square-foot facility that is 40 feet high with 124 dock positions, four drive-in doors, parking for 554 cars and 147 stalls for trailer parking, records show.
The company does not have any specific tenants, according to the filings.
"At this time, there are no specific users identified for the space but there remains high demand for buildings of this type on short lead times in the marketplace; hence the need to develop the building on a speculative basis," Venture One stated in its filing to the city.
The uses for the development also include e-commerce and fulfillment, manufacturing - such as receiving, storing and assembly - scientific and technical services, packaging and preparation, data centers, pharmaceuticals and miscellaneous storing, according to the filing.
Venture One Acquisitions LLC, an affiliate of the same company, is under contract to purchase the land, records show.
Property records show that DKids LLC, of Batavia Enterprises Inc., owns the property that Venture One Acquisitions proposes to buy.
Ryan Stoller, one of the principals of both Venture entities, said he had no comment on the proposal but confirmed Batavia Enterprises owns the land.
Austin Dempsey, CEO of Batavia Enterprises, did not return a voicemail message seeking comment.
A public hearing will be scheduled before the planning and zoning commission on the proposed annexation and rezoning.