Marcus & Millichap

Stephen Lieberman


Stephen Lieberman has an established Office & Industrial investment product focus and leads the Lieberman Advisory Group.  Stephen is also an active member of NAIOP, Chicago Chapter.  

For every client, Stephen demonstrates a full-service ability to ensure the creation and preservation of client investor wealth. He is committed to maximizing value for his clients while providing an unmatched level of service. As he works with you to evaluate your short and long term investment objectives, he is skilled to identify areas to increase value, mitigate risk, enhance cash flow revenues, and advise real-time financing availability and transactional solution options.

His team offers consistency in their property valuations and the deliverability of every investment property exclusively represented by his group. Stephen’s market research and local market expertise help investors make informed decisions with the advantage of the latest market statistics and broker knowledge.

Stephen graduated with a Bachelor of Science in Finance from the University of Illinois at Urbana-Champaign. 
"Stephen has a dedicated work ethic to provide his clients the very best results and service. He is one of our top Sales Agents and is a consistent leader at Marcus & Millichap with a proven ability to maximize value for his clients." - Richard Matricaria, First Vice President/Regional Manager Chicago Office.

Chicago Downtown
Stephen Lieberman

Stephen Lieberman

First Vice President Investments
Tel: (312) 327-5400
Fax: (312) 327-5410

License:  IL  475.144282

National Association of Industrial & Office Properties

Director - National Office and Industrial Properties Group
Member - Net Leased Properties Group

Promoted to Associate in March, 2009
Promoted to Senior Associate in November, 2013 
Promoted to Associate Vice President Investments in January, 2016 
Promoted to Vice President Investments in July, 2016  
Promoted to First Vice President Investments in January, 2017

University of Illinois - Urbana Champaign , Bachelor of Science in Finance , 2007

National Achievement Award: 2016, 2014
Sales Recognition Award: 2017, 2016, 2014, 2013

Our Team

Stephen Lieberman & Peter Doughty

Lieberman Advisory Group

We are highly passionate real estate professionals committed to building long-lasting relatrionships with our clients by partnering to deliver real value, insight, strategy and execution as their trusted advisor and brokerage professional by choice.
Our team delivers in depth expertise and dedicated creativity towards best positioning each property to sources the strongest buyers closing after closing.  For each client, we provide direct access to the nation's largest pool of qualified price and institutional investors.  Our skill sets and approach, paired with the Marcus & Millichap national platform are the corner-stones of our ability to maximize value.
Our objective is to take the necessary steps to develop the optimal property-level and portfolio stategy to maximize property value.  Combined with the real-time intelligence gained from our industry-leading sales activity and research, help investors make the most informed decisions with their real estate.
We are hired for our ability to achieve superior results driven by our ability to "make a market" for each assignment we represent.  
Stephen Lieberman
First Vice President Investments 
Director, National Office & Industrial Properties Group
(312) 327-5434 
Peter Doughty
Associate Investments
Member, National Office & Industrial Properties Group 
(312) 327-5470 
Alex Gallicho
(312) 327-5458 
Barbra Balogun
Marketing Coordinator Transaction Manager
(312) 327-5439
Dean Giannakopoulos
Director, Marcus & Millichap Capital Corporation 
(312) 327-5423

Team Members:

Transactions Closed




    Chicago, IL
    Price: $9,500,000

  • Bank of America Building | Value-Add Reposition

    Bank of America Building | Value-Add Reposition


    Chicago, IL
    Price: $2,820,000




    Gurnee, IL
    Price: $8,650,000

  • Olde English Manor Apartments

    Olde English Manor Apartments


    Wichita, KS
    Price: $9,800,000
    Size: 225,192 sqft
    Size: 264 units

  • ExpressMed Gahanna

    ExpressMed Gahanna

    Single Tenant Office Medical

    Gahanna, OH
    Price: $1,480,000
    Size: 6,000 sqft

  • 1941-2019 Johns Drive

    1941-2019 Johns Drive

    Industrial Office Warehouse

    Glenview, IL
    Price: $4,100,000

  • 1455 West Hubbard Street - Owner/User Offering

    1455 West Hubbard Street - Owner/User Offering


    Chicago, IL
    Price: $2,800,000



    Office Medical

    Des Plaines, IL
    Price: $10,050,000

  • Forever 21

    Forever 21

    Net Leased Miscellaneous

    Chicago, IL
    Price: $14,750,000
    Size: 16,000 sqft

  • 153-157 WEST OHIO STREET

    153-157 WEST OHIO STREET


    Price: $8,100,000

  • 111 East Algonquin Road

    111 East Algonquin Road

    Retail Vacant/User

    Arlington Heights, IL
    Price: $1,360,000
    Size: 5,522 sqft

  • 700-728 South Milwaukee Avenue

    700-728 South Milwaukee Avenue


    Wheeling, IL
    Price: $950,000

  • 100-180 Touhy Court

    100-180 Touhy Court

    Industrial Office Warehouse

    Des Plaines, IL
    Price: $1,665,000

  • Naperville Financial Center

    Naperville Financial Center


    Naperville, IL
    Price: $7,100,000

  • 630 Davis Street

    630 Davis Street


    Evanston, IL
    Price: $5,750,000
    Size: 26,000 sqft



    Net Leased Miscellaneous

    Franklin Park, IL
    Price: $8,000,000
    Size: 252,654 sqft

  • Northbrook Flex/Industrial

    Northbrook Flex/Industrial

    Industrial Office Warehouse

    Northbrook, IL
    Price: $2,500,000

  • 1 East Algonquin Road

    1 East Algonquin Road


    Arlington Heights, IL
    Price: $1,100,000

  • 3445-3465 North Kimball Avenue

    3445-3465 North Kimball Avenue

    Industrial Office Warehouse

    Chicago, IL
    Price: $5,300,000



    Shopping Neighborhood

    Bettendorf, IA
    Price: $5,150,215
    Size: 14,490 sqft

  • Evanston Enterprise Center

    Evanston Enterprise Center


    Evanston, IL
    Price: $5,040,000

  • 650 Anthony Trail

    650 Anthony Trail

    Industrial Warehouse

    Northbrook, IL
    Price: $4,600,000

  • 1st Bank Plaza Executive And Business Center

    1st Bank Plaza Executive And Business Center


    Lake Zurich, IL
    Price: $3,500,000
    Size: 50,536 sqft

  • Affinity Healthcare Center

    Affinity Healthcare Center

    Office Medical

    Arlington Heights, IL
    Price: $2,755,000

  • Emerson Mixed Use

    Emerson Mixed Use


    Evanston, IL
    Price: $2,660,000

  • 386 North York Road

    386 North York Road

    Office Medical

    Elmhurst, IL
    Price: $2,437,000

  • Single-Tenant Net Lease Coldwell Banker (NRT)

    Single-Tenant Net Lease Coldwell Banker (NRT)

    Single-Tenant Office

    Schaumburg, IL
    Price: $1,250,000
    Size: 5,037 sqft

  • 855 West Blackhawk Street

    855 West Blackhawk Street


    Chicago, IL
    Price: $5,575,000
    Size: 40,653 sqft
    Cap Rate: 5.01%

  • 60 W Superior St

    60 W Superior St

    Office Vacant/User

    Chicago, IL
    Price: $4,000,000
    Size: 14,400 sqft
    Size: 02 units

  • One Hawthorn Place

    One Hawthorn Place


    Vernon Hills, IL
    Price: $9,200,000
    Size: 84,592 sqft
    Cap Rate: 10.32%

  • 1525 W Homer St

    1525 W Homer St


    Chicago, IL
    Price: $4,500,000
    Size: 25,000 sqft

  • 584 E Oakton Street

    584 E Oakton Street

    Shopping Strip

    Des Plaines, IL
    Price: $2,900,000
    Size: 12,422 sqft

  • 3452 N Southport Ave

    3452 N Southport Ave

    Multifamily & Retail

    Chicago, IL
    Price: $3,380,000
    Size: 6,100 sqft
    Size: 25 units

  • Orange Theory Fitness - Streeterville Chicago

    Orange Theory Fitness - Streeterville Chicago

    Net Leased Fitness Center

    Chicago, IL
    Price: $3,000,000
    Size: 4,415 sqft

  • ExpressMed Gahanna

    ExpressMed Gahanna

    Single Tenant Office Medical

    Gahanna, OH
    Price: $1,700,000
    Size: 6,000 sqft

In The News

  • 3445-3465 N. Kimball Ave.

    Represented the seller in the sale of the 80,205 square-foot building located in the Avondale neighborhood of Chicago. The industrial site, which sits on 3.44 acres of land, retailed for $5,300,000.

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    1525 W. Homer

    Represented the seller in the sale of the 24,000-square-foot building located in the Lincoln Park neighborhood. The office loft space retailed for $4,500,000.

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    60 West Superior

    Represented the seller in the sale of the 14,400 square foot building located in the River North neighborhood. The mixed-use office space retailed for $4,000,000.

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  • The Chandler's Building

    Represented the seller, in the sale of The Chandler's Building located at 630 Davis Street in Evanston, Illinois. The mixed-use office space and 23,929 square feet of ground-floor retail space sold...

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    855 West Blackhawk St.

    Represented the seller, in the sale of the three-story building in Clybourn corridor for $5.6 million.

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    400 North Wells | River North

    Represented the seller, owner of the anchored Kinzie Chophouse Restaurant, in the sale of the four-story building in River North for $9.5 million.

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  • Johns Drive Industrial Building

    Represented the seller and buyer of a 68,075-square-foot industrial building located in Glenview, Illinois.

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    100-180 Touhy Court

    Represented the seller of the two flex/industrial properties that totaled 48,101 rentable square feet in Des Plaines, IL

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    Forever 21 Lincoln Park

    Represented Acadia Realty Trust in acquiring the two-story, 16,000-square foot trophy asset on 865 W. North Avenue in the Lincoln Park neighborhood of Chicago

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  • Applebee's in Arlington Heights

    Represented the buyer of a 5,500 square foot former Applebee's at 111 E. Algonquin Road in Arlington Heights, IL

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    153-157 West Ohio Street

    Represented the seller of a five-story, 40,000-square foot, timber loft office located in the River North neighborhood of Chicago

    Read More

    1455 West Hubbard Street

    Represented the seller of a two story, 24,000-square foot modernized loft office building in the West Town neighborhood of Chicago

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  • ExpressMed Gahanna

    Represented the buyer of a 6,000-square-foot net-leased medical office in Gahanna, Ohio

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    Crown Corporate Center

    Four-building single-story office portfolio located at 1275-1425 Tri State Parkway in Gurnee, Illinois

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    4752-4760 North Broadway Street

    Represented the seller of a three-story mixed-use commercial building in the Uptown neighborhood of Chicago

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  • Evanston Enterprise Center

    50,564-square-foot-office building located at 1840 Oak Avenue in downtown Evanston

    Read More