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:
- 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.
Players
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