Tucker Development and Wingspan Development Group recently closed on the acquisition of 5400 Old Orchard Rd. in Skokie, Illinois with plans to demolish the existing office property and build a four-story mixed-use development featuring 245 luxury apartments, 49 rental townhomes and commercial space. This marks the first joint venture between these two family-owned enterprises.
Aaron Tucker, President & CIO for Tucker commented: “We see strong demand for well located Class A rental communities in Chicago’s suburbs across a wide variety of resident profiles – ranging from young professionals to empty nesters.” Nick Papanicholas Jr., President of Wingspan added: “Both Tucker and Wingspan are experienced in creating exciting new communities in premium locations; we really feel like this is a development dream team with shared passion for making 5400 Old Orchard Road into an iconic legacy project.”
Demolition of the two story office building is expected to begin late this fall.
