A joint venture between Tucker Development and Wingspan Development Group closed on the acquisition of 5400 Old Orchard Rd. in Skokie, IL, with plans to demolish the existing office property to build a four-story mixed-use development including 245 luxury apartments, 49 rental townhomes and commercial space. It’s the first JV between the two family-owned enterprises.  

“We see strong and growing demand for well-located, highly amenitized Class A rental communities in Chicago’s suburbs across a wide variety of resident profiles – ranging from young professionals to empty nesters,” said Aaron Tucker, president and CIO for Tucker.  

Added Wingspan president Nick Papanicholas Jr., “Both Tucker and Wingspan are well-versed in creating exciting new communities in premium locations, so we really feel like this is a development dream team. We share a passion for making 5400 Old Orchard a legacy development.”   

Demolition of the two-story office property is expected to commence late this fall. 

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