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JV Secures $100M in Construction Debt for Skokie Mixed-Use
A joint venture between Tucker Development and Wingspan Development Group has closed on $100M in construction financing for The Henry at Harms Woods, a new four-story, mixed-use development at 5400 Old Orchard Road in Skokie, Illinois.
“Given the constrained lending environment, the lenders demonstrated confidence in this project and all involved parties,” said Aaron Tucker, president and chief investment officer for Tucker. The financing was provided by Kennedy Wilson and a national insurance concern.
The first new-construction Class A rental property to be developed in the area in more than a decade, The Henry at Harms Woods, will include 245 luxury apartments, 49 rental townhomes and approximately 10,000 square feet of commercial space. Located just west of Westfield Old Orchard, the building was designed by HKM Architects + Planners and will be built by Nicholas & Associates, with construction expected to start in the spring.
