The president of TLC Management is Stuart Handler, who also is president of the Chicago Apartment Association, a group made up of other multifamily rental property owners.
Millennium Properties president Daniel J. Hyman represented TLC Management while David Well of Well Investments, Inc. represented the seller.
The $100,000 per unit threshold is being challenged by other multifamily properties on the market in this suburb, although none are near the size of the building. Also, 1501 Maple has scarce three-bedroom units.
Although financial details of 1501 Maple were not disclosed, asking prices are at capitalization rates in the low 6% range.
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