Press Releases
Marcus & Millichap Brokers Sale of Industrial Property in Lake Forest, Illinois for $3.47M
September 09, 2026
LAKE FOREST, Ill., Sept. 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 28101 Ballard Drive, a 32,003-square-foot, six-unit industrial property in Lake Forest, Illinois. The property sold for $3,465,000.
“The property received 12 offers and sold above the asking price, with both parties completing 1031 exchanges, including a buyer who sold a mixed-use land parcel in the city to acquire its first industrial property,” said Alexander Zlotnik, associate investments. “With two of the six units offering future mark-to-market opportunities, the asset presented an attractive combination of stable occupancy and upside potential. Demand for small-bay industrial space continues to exceed supply, and rising construction costs are expected to support continued rent growth across the market.”
Zlotnik, Tyler Sharp and Adam Abushagur, investment specialists in Marcus & Millichap’s Chicago Downtown and Dallas offices, had the exclusive listing to market the property on behalf of the seller. Hubert and Stephen Cioromski of Troy Realty LTD procured the buyer, R & R Developers.
The fully occupied, shallow-bay industrial asset is situated on 1.87 acres approximately one mile from Interstate 94 in the South Lake industrial submarket. The masonry building features 15-foot clear heights, seven grade-level doors and five dock-high doors. Zoned for limited industrial use, the property can accommodate a variety of users, including contractors, manufacturing, warehousing and distribution tenants.
“The property received 12 offers and sold above the asking price, with both parties completing 1031 exchanges, including a buyer who sold a mixed-use land parcel in the city to acquire its first industrial property,” said Alexander Zlotnik, associate investments. “With two of the six units offering future mark-to-market opportunities, the asset presented an attractive combination of stable occupancy and upside potential. Demand for small-bay industrial space continues to exceed supply, and rising construction costs are expected to support continued rent growth across the market.”
Zlotnik, Tyler Sharp and Adam Abushagur, investment specialists in Marcus & Millichap’s Chicago Downtown and Dallas offices, had the exclusive listing to market the property on behalf of the seller. Hubert and Stephen Cioromski of Troy Realty LTD procured the buyer, R & R Developers.
The fully occupied, shallow-bay industrial asset is situated on 1.87 acres approximately one mile from Interstate 94 in the South Lake industrial submarket. The masonry building features 15-foot clear heights, seven grade-level doors and five dock-high doors. Zoned for limited industrial use, the property can accommodate a variety of users, including contractors, manufacturing, warehousing and distribution tenants.
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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.
