Press Releases
Marcus & Millichap Arranges $2.5M Sale of Medical Office Property in Libertyville, Ill.
August 14, 2025
LIBERYVILLE, Ill., Aug. 14, 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 1234 N Milwaukee Ave., a net-leased medical office occupied by Forefront Dermatology in Libertyville, Illinois. The property sold for $2.5 million.
“This property will serve as a strategic investment for the buyer, who is actively expanding their healthcare real estate portfolio across the Chicagoland area,” said Daniel Chumbley, associate investments. “Libertyville and the greater North Suburban Chicago market remain highly desirable for healthcare real estate investment, supported by strong demographics, high household incomes, and limited competing supply that continue to drive long-term tenant and investor demand.”
Chumbley, Sean Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, procured the buyer, a local private investor.
Originally built in 1996 as a Burger King, the 6,300-square-foot property underwent a full renovation in 2018 and an expansion in 2022 to accommodate the seller’s wife’s dermatology practice, which was later acquired by Forefront Dermatology.
“This property will serve as a strategic investment for the buyer, who is actively expanding their healthcare real estate portfolio across the Chicagoland area,” said Daniel Chumbley, associate investments. “Libertyville and the greater North Suburban Chicago market remain highly desirable for healthcare real estate investment, supported by strong demographics, high household incomes, and limited competing supply that continue to drive long-term tenant and investor demand.”
Chumbley, Sean Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, procured the buyer, a local private investor.
Originally built in 1996 as a Burger King, the 6,300-square-foot property underwent a full renovation in 2018 and an expansion in 2022 to accommodate the seller’s wife’s dermatology practice, which was later acquired by Forefront Dermatology.
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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.
