For any variety of groups $\mathfrak{V}$ (a class of groups that is closed under subgroups, arbitrary products, and homomorphic images), given a group $G$ there is a verbal subgroup $\mathfrak{V}(G)$ with the property that:
- $\mathfrak{V}(G)$ is normal in $G$ (in fact, fully invariant);
- $G/\mathfrak{V}(G)\in \mathfrak{V}$;
- Any morphism from $G$ to a group in $\mathfrak{V}$ factors through $G/\mathfrak{V}(G)$.
The subgroup $\mathfrak{V}(G)$ is generated by all values of words that are laws of the variety $\mathcal{V}$. See the discussion here.
The class of all nilpotent groups of class at most $c$ is determined by the law
$$[[\cdots[[x_1,x_2],x_3]\cdots],x_{c+1}]$$
(that is, a group $G$is nilpotent of class at most $c$ if and only if every evaluation of that word at elements of $G$ yields the identity element). The corresponding verbal subgroup is also known as the $(c+1)$st term of the lower central series of $G$ and plays the same role relative to nilpotent groups of class at most $c$ as the commutator subgroup (second term of the lower central series) relative to abelian groups (nilpotent groups of class at most $1$).
However, there is no similar subgroup for the class of all nilpotent groups. You can take the intersection of all terms of the lower central series, which will have properties 1 and 3 above, but need not have property 2, so it cannot be called a "nilpotenciation" of $G$. Similar things happen with "solvable of length at most $n$" (use the $n$th term of the derived series) vs. "solvabilization".
(Some groups may have a subgroup satisfying 1, 2, and 3 relative to "all nilpotent groups"; if the terms of the lower central series stabilize, then that subgroup is the one you want. E.g., all finite groups necessarily have this property; for instance, the "nilpotenciation" of $S_3$ is its abelianization).