Press Releases
Marcus & Millichap Facilitates $6.1 Million Sale of Net-Leased Diamonds Direct in Oak Brook, Illinois
March 17, 2025
OAK BROOK, Ill., March 17, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a net-leased Diamonds Direct property located in Oak Brook, Illinois for $6,115,000.
Nicholas Kanich, investment specialist in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a global real estate investment manager, and a broker with a boutique Chicago firm procured the buyer, a family partnership in a 1031 exchange based in South Dakota.
“Our goal of executing on the seller’s business plan to divest of these high value retail outparcels continues with the Diamonds Direct sale,” said Kanich, first vice president investments. “We identified and courted the group that eventually purchased it as a marquee anchor in their larger trade portfolio. Pricing for these jewel box single-tenant assets remains strong as a result of the lack of true supply.”
Located at 1150 W. 22nd St., the property is a 6,000-square-foot, single-tenant building under a triple-net ground lease with Diamonds Direct, with just under 14 years remaining. Situated at a high-traffic intersection in Oak Brook, a wealthy Chicago suburb, the property has visibility to more than 138,000 vehicles per day and is part of the 17-acre Oak Brook Commons mixed-use development.
Nicholas Kanich, investment specialist in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a global real estate investment manager, and a broker with a boutique Chicago firm procured the buyer, a family partnership in a 1031 exchange based in South Dakota.
“Our goal of executing on the seller’s business plan to divest of these high value retail outparcels continues with the Diamonds Direct sale,” said Kanich, first vice president investments. “We identified and courted the group that eventually purchased it as a marquee anchor in their larger trade portfolio. Pricing for these jewel box single-tenant assets remains strong as a result of the lack of true supply.”
Located at 1150 W. 22nd St., the property is a 6,000-square-foot, single-tenant building under a triple-net ground lease with Diamonds Direct, with just under 14 years remaining. Situated at a high-traffic intersection in Oak Brook, a wealthy Chicago suburb, the property has visibility to more than 138,000 vehicles per day and is part of the 17-acre Oak Brook Commons mixed-use development.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
