Vladimir Novakic Acquires 222-Unit Multifamily Community From Alex Rodriguez & Joseph Ianoale For $30M

The asset involved in this transaction is a multifamily property known as Eclipse, located at 1450 South Busse Road in Mount Prospect, Illinois. The property consists of 222 units, and the sale price was $30 million, resulting in a price per unit of $135,135. During Monument Capital Management's hold period, approximately 75% of the units were renovated, and amenities were upgraded as part of a value-add strategy.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $30,000,000
• Address: 1450 South Busse Road
• Market: Mount Prospect
• Units: 222
• Price Per Unit: $135,135
• Buyer: Vladimir Novakic
• Seller: Alex Rodriguez & Joseph Ianoale - Monument Capital Management

Key individuals involved in the transaction include the buyer, Vladimir Novakic, and the sellers, Alex Rodriguez and Joseph Ianoale, who are associated with Monument Capital Management. The transaction signifies a strategic sale following the completion of significant renovations and upgrades to the property.