Press Releases
Marcus & Millichap Closes Suburban Chicago Multifamily Asset Sale
January 09, 2026
CHANNAHON, Ill., Jan. 9, 2026 – 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 Mallard Point Apartments, a 173-unit multifamily asset in Channahon, Illinois. The property sold for $24,625,000, which equates to $142,341 per unit.
“The closing followed a highly competitive marketing process that generated more than 30 offers,” said Scott Harris, senior managing director investments in Marcus & Millichap’s Chicago Oak Brook office. “Located in one of the fastest-growing counties in Illinois, the property was 99% occupied at the time of the sale.” Harris and Sam McCarthy of Marcus & Millichap represented Loboda Properties, the California-based family office that acquired the asset and assumed the existing HUD loan. “This transaction underscores the depth of investor demand for well-located, stabilized multifamily assets with existing cash flow and operational upside,” said McCarthy.
The property is 50 miles southwest of Downtown Chicago near the intersection of Interstate 55 and Interstate 80. Trader Joe’s, Grainger, Macy’s, Amazon, and Target all have distribution centers in the area. Commuter rail service is a short drive from the property in Joliet and shopping is nearby at Heartland Crossing and Minooka Plaza.
Mallard Point Apartments is a 13-building, garden-style community built in 2003 on 22 acres. The unit mix of one- and two-bedroom apartments averages nearly 1,000 square feet. All units have full-size washers and dryers, soaking bathtubs, and walk-in closets. Select units have gas fireplaces. Community amenities include a clubhouse, fitness center, business center, heated outdoor swimming pool, and sand volleyball court.
“The closing followed a highly competitive marketing process that generated more than 30 offers,” said Scott Harris, senior managing director investments in Marcus & Millichap’s Chicago Oak Brook office. “Located in one of the fastest-growing counties in Illinois, the property was 99% occupied at the time of the sale.” Harris and Sam McCarthy of Marcus & Millichap represented Loboda Properties, the California-based family office that acquired the asset and assumed the existing HUD loan. “This transaction underscores the depth of investor demand for well-located, stabilized multifamily assets with existing cash flow and operational upside,” said McCarthy.
The property is 50 miles southwest of Downtown Chicago near the intersection of Interstate 55 and Interstate 80. Trader Joe’s, Grainger, Macy’s, Amazon, and Target all have distribution centers in the area. Commuter rail service is a short drive from the property in Joliet and shopping is nearby at Heartland Crossing and Minooka Plaza.
Mallard Point Apartments is a 13-building, garden-style community built in 2003 on 22 acres. The unit mix of one- and two-bedroom apartments averages nearly 1,000 square feet. All units have full-size washers and dryers, soaking bathtubs, and walk-in closets. Select units have gas fireplaces. Community amenities include a clubhouse, fitness center, business center, heated outdoor swimming pool, and sand volleyball court.
# # #
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.
