David W. Harvey Of Fairbourne Properties Acquires Village Crossing Retail Center In Skokie For $99.5M
5601 West Touhy Avenue & 5699 West Touhy Avenue
Building Size
724,400 SF
Asset Type
Retail
Closing
Sep 15, 2026
About this deal
AI
The property asset involved in this transaction is a grocery-anchored retail center known as Village Crossing, which spans 724,400 square feet. It is located at 5601-5699 West Touhy Avenue in Skokie, Illinois.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $99.5 million
- Buyer: David W. Harvey - Fairbourne Properties
- Broker: Draper and Kramer
Draper and Kramer facilitated the financing for this acquisition, arranging a loan that not only supports the purchase but also covers tenant improvements and leasing commissions associated with the property.
On the Map
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93