Tucker Development and Wingspan Development Group have successfully secured $100 million in construction financing for their joint venture project, The Henry at Harms Woods. This four-story mixed-use development is located at 5400 Old Orchard Road in Skokie, Illinois.
According to Aaron Tucker, President and Chief Investment Officer of Tucker Development, the lenders displayed confidence in the project despite a challenging lending environment. The financing was provided by Kennedy Wilson and a national insurance company.
The Henry at Harms Woods will be the first new-construction Class A rental property to be developed in this area within the past decade. It will feature 245 luxury apartments, 49 rental townhomes, and approximately 10,000 square feet of commercial space. Designed by HKM Architects + Planners and built by Nicholas & Associates,the building’s construction is expected to commence during springtime.
This successful joint venture has demonstrated strong partnerships between all parties involved as they work towards bringing this highly-anticipated development to fruition.
