Vladimir Novakovic Acquires 222-Unit Multifamily Property In Mount Prospect From Alex Rodriguez And Ramon Corona For $30M

The multifamily asset at 1450 South Busse Road in Mount Prospect comprises 222 units and was sold for $30 million, equating to approximately $135,135 per unit. This transaction highlights the robust market for multifamily properties in the Chicago area.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $30,000,000
• Units: 222
• Price Per Unit: $135,135
• Buyer: Vladimir Novakovic
• Seller: Alex Rodriguez & Ramon Corona - Monument Capital Management

Vladimir Novakovic is an investor from Rolling Meadows who successfully acquired the property. This sale follows another significant transaction by Monument Capital Management, which previously disposed of a different Mount Prospect property for $75 million in December, reflecting the company's strategy to leverage strong multifamily fundamentals in the Chicago area.