A joint venture between Tucker Development and Wingspan Development Group announced it has closed on $100 million in construction financing for The Henry at Harms Woods, a new mixed-use development at 5400 Old Orchard Road in Skokie, Illinois. 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. It is the first joint venture project between Tucker and Wingspan and will build on both companies’ expertise in developing and constructing Class A suburban communities in the Chicagoland area, as well as nationwide.
The building, located just west of Interstate 94 and the North Shore’s preeminent shopping destination Westfield Old Orchard, was designed by HKM Architects + Planners and will be built by Nicholas & Associates. Demolition of an existing office structure is scheduled for this winter, while construction on the project is planned to start in the spring.
Upon completion, The Henry at Harms Woods will offer studio, one-, two- and three-bedroom units, as well as three-story townhomes and ground-floor commercial and retail space. Community amenities will include an expansive courtyard with swimming pool and sun deck, lounge and grilling areas; a fully appointed fitness center; and designated coworking stations.
Neighborhood attractions include the 350-acre Harms Woods Nature Preserve, a 108,000-square-foot Life Time gym located across the street and the regionally dominant upscale Westfield Old Orchard shopping mall just a half-mile away. The site is a one-minute drive to Interstate 94, providing easy access to Downtown Chicago and the northern suburbs.
