Installation Issues

[Russell Cook]

I'm receiving the following error when trying to do the final 'make' command 
for install:

[/usr/local/monit-4.8.2]$ make install
/usr/bin/install -c  -m 755 -d /usr/local/bin || exit 1
/usr/bin/install: cannot change permissions of `/usr/local/bin': Operation 
not permitted
make: *** [install] Error 1


I'm not quite sure why /usr/local/bin needs to have 755 permissions but my 
system doesn't seem to  allow me to change that even though I'm logged in as 
root. Is there a way around it? I would appreciate any help with figuring 
out how to get monit successfully install. Thanks!

Russell