Preheat the oven to 350 degrees and lightly grease a loaf pan.
In a large bowl, combine the ground beef, Italian breadcrumbs, Parmesan cheese, egg, milk, onion, garlic, Italian seasoning, salt, and black pepper. Mix with your hands until evenly blended.
Press the meat mixture into the prepared loaf pan and smooth the top.
In a small bowl, stir together the brown sugar, ketchup, and balsamic vinegar until the sugar dissolves.
Spread the glaze evenly over the top of the meatloaf.
Bake for 55 to 60 minutes until the internal temperature reaches 160 degrees.
Let the meatloaf rest for 10 minutes before slicing and serving.