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

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SOLD
$30,000,000
Alex Rodriguez
RC
VN

Illinois

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

1450 South Busse Road

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MultiFamily
Sold
Alex Rodriguez
RC
VN
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

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.

Players

VN
Vladimir Novakovic
1 deal$30M volume
BUYER
Alex Rodriguez
Monument Capital Management
Alex Rodriguez
11 deals$261M volume
SELLER
RC
Monument Capital Management
Ramon Corona
2 deals$105.3M volume
SELLER

Details

SOLD
IMAGE: Alex Rodriguez DATE: 03/04/2026 ADDRESS: 1450 South Busse Road MARKET: Mount Prospect ASSET TYPE: Multifamily BUYER: Vladimir Novakovic SELLER: Alex Rodriguez (@ARod) & Ramon Corona - Monument Capital Management SALE PRICE: $30,000,000 UNITS: 222 ~ PPU: $135,135 NOTE: Alex Rodriguez’s Monument Capital Management sold the 222-unit apartment complex at 1450 South Busse Road in Mount Prospect for $30 million, or about $135,000 per unit, to Rolling Meadows investor Vladimir Novakovic. The sale follows Monument’s $75 million disposition of another Mount Prospect property in December as the firm capitalizes on strong Chicago-area multifamily fundamentals.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,600,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66