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Chicago & Midwest  + North Side  + Industrial  |  July 7, 2026
Jasmine Kilman
By: Jasmine Kilman

Marcus & Millichap Brokers Self-Storage Property Deal in Chicago

Marcus & Millichap completed the sale of a brand-new, 916-unit Public Storage property in Chicago, Illinois.

“Above-average development complexity has constrained new self-storage supply, contributing to Chicago’s status as one of the industry’s strongest self-storage rental rate markets,” said Jeffrey Herrmann, senior director of investments. “Those market fundamentals continue to attract investors seeking high-quality assets in supply-constrained locations.”

Herrmann and Sean Delaney, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, an Illinois-based LLC. Delaney procured the buyer, a Texas-based LLC. Public Storage, located at 5251 N. Kedzie Ave., was completed in 2024 and consists of 916 climate-controlled self-storage units totaling 72,899 rentable square feet. The institutional-quality facility is situated in a densely populated area with a predominantly renter-occupied housing base and benefits from strong visibility along North Kedzie Avenue.

Hear from the West Coast’s Leading Industrial Real Estate Experts | August 20
Gain firsthand insight from the executives, investors, and developers navigating today’s industrial market. From shifting capital flows and debt trends to evolving occupier demand and development strategies, take part in the conversations shaping the future of industrial real estate. Register now: www.connectindustrialwest2026.com

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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