TLC Management Acquires Centrum Evanston Apartments In Illinois For $45.4M

TLC Management, led by Stuart Handler, has acquired the Centrum Evanston apartments in Illinois for $45.4 million. The property, located at 1590 Elmwood Avenue in Evanston, is a multifamily asset consisting of 103 units. The purchase price equates to an average price per unit of $441,748. The Scholar, as it is now called, is fully occupied and primarily caters to students from the Kellogg School of Management at Northwestern University.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $45,500,000
• Address: 1590 Elmwood Avenue, Evanston

John McLinden and Arthur Slaven were the sellers of the Centrum Evanston apartments. TLC Management capitalized on a low-interest-rate loan to complete the acquisition. The deal was completed on 07/06/2023 and marks another successful transaction for TLC Management in the Evanston market.