**TLC Management Acquires Vernon Hills Apartment Complex for $100 Million**
TLC Management, a Chicago-based company that owns and operates its rental communities exclusively, has completed the largest suburban multifamily transaction of the year with the purchase of a Vernon Hills apartment complex for $100 million.
The acquisition includes The Mil’Ton, a 294-unit, three-building property located at 1155 Museum Boulevard. TLC Management acquired the seven-story development from financial services firm Mesirow. Mesirow originally purchased the property in 2018 for $87.1 million and recently listed it for sale through CBRE brokers John Jaeger, Justin Puppi, Jason Zyck, Jillian Jaeger, and Tricia Carolan.
At the time of the sale, the complex was 94 percent occupied. Following the acquisition, TLC Management rebranded the property as The Majestic Luxury Apartments. The company has also introduced a range of upgrades and renovations to enhance the living experience.
Built in 2004, The Majestic Luxury Apartments now offers a mix of one-, two-, and three-bedroom units, along with an extensive list of amenities. Residents can enjoy a gym, tennis court, steam room, sauna, swimming pool, spa treatments, hot tub, cinema room, and landscaped communal gardens.
