Based on the characterization of realistic radio channels, results presented in this dissertation lead towards an understanding that when moving up to the higher frequencies, frequency itself does not play a significant role in defining the channel modeling methodology. In fact, how a propagation channel is illuminated is of fundamental importance. Therefore, millimeter wave (mmWave) system properties such as a high antenna directivity and system bandwidth are shown to have a great influence on the channel model definition. In this thesis, a fundamental assumption made in the state-of-the-art millimeter wave wireless channel models is challenged. It has been shown that Rayleigh-Rice fading assumption made in the state-of-the-art channel models for resolvable channel taps does not remain valid. This is mainly due to the sparse multipath illumination caused by high antenna directivity and high bandwidth of a mmWave system.