Stuart Handler Of TLC Management Acquires 294-Unit Multifamily Property In Vernon Hills For $100M

The Mil’Ton is a seven-story multifamily property located at 1155 Museum Boulevard in Vernon Hills. The asset comprises 294 apartment units, which are currently 94% occupied. The average rental price per unit is approximately $3,000, with the total sale price reaching $100 million, translating to around $340,136 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $100,000,000
• Units: 294
• Price Per Unit: $340,136
• Buyer: Stuart Handler - TLC Management
• Seller: Natalie Brown - Mesirow
• Brokers: John Jaeger, Justin Puppi, Jason Zyck, Jillian Jaeger & Tricia Carolan - CBRE

This transaction represents the largest suburban Chicago multifamily deal of the year. The marketing effort for the property was handled by a team of brokers from CBRE, including John Jaeger, Justin Puppi, Jason Zyck, Jillian Jaeger, and Tricia Carolan, who facilitated the deal between TLC Management and Mesirow.