Marcus & Millichap Inc.
06/02/2026 | Press release | Distributed by Public on 06/02/2026 16:19
Marcus & Millichap Brokers Chicago Area Multifamily Asset Sale
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Marcus & Millichap Brokers Chicago Area Multifamily Asset Sale
June 02, 2026
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JOLIET, Ill., June 2, 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 Rock Run Residences, a 128-unit multifamily property in Joliet, Illinois.
"Rock Run Residences generated strong interest from the investment community, drawing considerable attention from buyers seeking a renovated, fully leased asset with continued upside," said Ryan D. Engle, senior managing director investments. "The property's unique unit mix, recent renovation, and approximately five acres of additional land for future development made it a compelling opportunity in the Joliet market." Engle and Andrean Angelov of Marcus & Millichap's Chicago Oak Brook office had the exclusive listing on behalf of the seller and procured the buyer. Both are private investors.
Rock Run Residences is situated on over 15 acres on 1524 Richard T. Rivera Way. Built in 2002 and fully renovated between 2021 and 2024, the property consists of seven buildings totaling 81,960 rentable square feet, with 12 studios, 96 two-bedroom, four three-bedroom, and 16 four-bedroom units. Amenities include a clubhouse, fitness center, community kitchen, swimming pool, sundeck, picnic area, sand volleyball court, and ample off-street parking. Each unit features a balcony or patio and in-unit laundry.
With easy access to Interstate 80 and Interstate 55, the downtown Chicago Loop is within 50 miles, and Midway International Airport is less than 40 miles away. Rock Run Residences is near Joliet Junior College, Heritage Trail Elementary School, and Rock Run Crossings, a new retail and entertainment development.
"Rock Run Residences generated strong interest from the investment community, drawing considerable attention from buyers seeking a renovated, fully leased asset with continued upside," said Ryan D. Engle, senior managing director investments. "The property's unique unit mix, recent renovation, and approximately five acres of additional land for future development made it a compelling opportunity in the Joliet market." Engle and Andrean Angelov of Marcus & Millichap's Chicago Oak Brook office had the exclusive listing on behalf of the seller and procured the buyer. Both are private investors.
Rock Run Residences is situated on over 15 acres on 1524 Richard T. Rivera Way. Built in 2002 and fully renovated between 2021 and 2024, the property consists of seven buildings totaling 81,960 rentable square feet, with 12 studios, 96 two-bedroom, four three-bedroom, and 16 four-bedroom units. Amenities include a clubhouse, fitness center, community kitchen, swimming pool, sundeck, picnic area, sand volleyball court, and ample off-street parking. Each unit features a balcony or patio and in-unit laundry.
With easy access to Interstate 80 and Interstate 55, the downtown Chicago Loop is within 50 miles, and Midway International Airport is less than 40 miles away. Rock Run Residences is near Joliet Junior College, Heritage Trail Elementary School, and Rock Run Crossings, a new retail and entertainment 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, 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 https://www.MarcusMillichap.com.
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