Press Releases
Marcus & Millichap Arranges $2.9M Sale and Financing of Starbucks Property in Joliet, Illinois
April 07, 2026
JOLIET, Ill., April 7, 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 a net-leased Starbucks property in Joliet, Illinois, for $2,904,000. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, secured the financing.
“New construction Starbucks assets are still a prime, sought after investment,” said Austin Weisenbeck, senior managing director investments. “Our team procured multiple offers and ultimately sold to an out-of-state private investor at 97% of list price.”
Weisenbeck and Sean Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a local developer. Jeff Rowlett, Mark Peltin and Blake Hanlon from the firm’s Milwaukee office, procured the buyer.
Michael Hughes, managing director in the firm’s Milwaukee office, secured a 5-year loan with a 5.65% fixed interest rate and a 25-year amortization period.
The Starbucks property is situated on 1.65 acres at 550 Houbolt Road. The property was built in 2025 and is secured by a 15-year ground lease. It is positioned near Joliet’s primary retail corridor, anchored by Walmart Supercenter, Menards, ALDI, Chipotle and Panera Bread, which draw more than 5.5 million visitors annually.
“New construction Starbucks assets are still a prime, sought after investment,” said Austin Weisenbeck, senior managing director investments. “Our team procured multiple offers and ultimately sold to an out-of-state private investor at 97% of list price.”
Weisenbeck and Sean Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a local developer. Jeff Rowlett, Mark Peltin and Blake Hanlon from the firm’s Milwaukee office, procured the buyer.
Michael Hughes, managing director in the firm’s Milwaukee office, secured a 5-year loan with a 5.65% fixed interest rate and a 25-year amortization period.
The Starbucks property is situated on 1.65 acres at 550 Houbolt Road. The property was built in 2025 and is secured by a 15-year ground lease. It is positioned near Joliet’s primary retail corridor, anchored by Walmart Supercenter, Menards, ALDI, Chipotle and Panera Bread, which draw more than 5.5 million visitors annually.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
