A joint venture between Tucker Development and Wingspan Development Group has closed on the acquisition of 5400 Old Orchard Road in Skokie, Illinois, with plans for a four-story mixed-use development that includes 245 luxury apartments, 49 rental townhomes and commercial space. This is the first joint venture between the two family-owned enterprises, each with a long history of successful development and construction experience.
Designed by HKM Architects + Planners, 5400 Old Orchard will leverage Tucker and Wingspan’s track record for creating Class A suburban communities and their well-established reputations for quality construction. Recent nearby Wingspan projects include 20West and Maple Street Lofts, both featuring apartments and commercial space, in Mount Prospect, Illinois. Tucker is nearing completion of District 1860, a 300-unit mixed-use development that includes over 80,000 square feet of commercial space, at the intersection of Touhy and Lincoln avenues in Lincolnwood, Illinois. Wingspan has a number of multifamily communities in various stages of development in the Chicagoland area, as well as in suburban Milwaukee and Tampa.
Located 12 miles from Downtown Chicago, 5400 Old Orchard is currently the site of an office building. Demolition of the two-story building is expected to commence late this fall, followed by the groundbreaking for the new development. Nicholas & Associates will be the general contractor.
Upon completion, 5400 Old Orchard will feature a mix of studio, one-, two- and three-bedroom units, along with three-story townhomes and planned amenities including a courtyard with swimming pool, lounge and grilling areas; fitness center; designated coworking stations; and ground-floor commercial and retail space.
The property is less than a half-mile to Interstate 94, which serves as the main expressway to Downtown Chicago and its northern suburbs. It also is adjacent to the 350-acre Harms Woods Nature Preserve, across the street from a 108,000-square-foot Life Time gym, and a half-mile to the regionally dominant Westfield Old Orchard shopping mall.
