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1155 Museum Boulevard

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

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

1155 Museum Boulevard

$100,000,000

Building Size

Asset Type

MultiFamily

Closing

Aug 19, 2025

AI

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:

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.

Players

John Jaeger

CBRE

Broker

$2.1B

vol

29 deals

Broker
CBRE
CBREBrokerage
Natalie Brown

Natalie Brown

Mesirow Financial

Seller

$403.6M

vol

5 deals

Seller
Mesirow Financial
Mesirow FinancialSeller

Vernon Hills MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.16%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93