CHICAGO - (September 14, 2026)
Draper and Kramer, Incorporated, a national full-service real estate firm, announces a team led by Bill Barry and Bill Stewart, both senior vice presidents with the firm’s Commercial Finance Group (CFG), brokered a $99.55 million loan on behalf of Fairbourne Properties for the acquisition of Village Crossing, a 724,400-square-foot retail center on the border between Skokie and Niles, Ill. Built in 1988, the grocery-anchored shopping center at 5601-5699 W. Touhy Ave. includes a Jewel-Osco, AMC movie theater and Dick’s Sporting Goods.
“We saw strong competition among lenders to finance the acquisition, even though the size was significant. In fact, this is reported to be the largest Chicago-area retail deal in the last decade,” said Stewart. “Retail continues to enjoy strong demand among investors and lenders given the strength of the U.S. consumer and the limited supply of new retail construction, particularly in dense or infill communities.”
In addition to facilitating the acquisition, the loan sourced by Draper and Kramer will fund tenant improvement and leasing commission costs for new leasing at the property.
“This is a property that aligns closely with Fairbourne’s investment strategy of acquiring high-quality, dominant assets in markets where retailers want to be,” said Fairbourne Properties Senior Manager Laura Faber. “The property benefits from an exceptional location, a broad regional draw and a compelling tenant lineup that has established Village Crossing as a premier retail destination within the trade area. As the new ownership group, Fairbourne intends to make a meaningful capital investment in Village Crossing, addressing deferred maintenance while enhancing the property’s overall appearance and customer experience.”
For more information on Draper and Kramer’s Commercial Finance Group, visit https://draperandkramer.com/what-we-do/commercial-finance-group/.
About Draper and Kramer, Incorporated
Founded in 1893, Draper and Kramer, Incorporated, is a trusted financial and property services provider with a deep commitment to people, excellence, service and integrity spanning more than 130 years. Family-owned and one of the leading privately held real estate services firms in the U.S., Draper and Kramer is headquartered in Chicago with a national reach and broad offering of services. The company’s decades-long heritage has evolved over the years and today spans expertise in residential and commercial development, acquisition, property management and leasing; and debt and equity financing for commercial properties. Draper and Kramer provides a single source of real estate-related counsel to a diverse group of real estate investors across the U.S., including corporations; private and institutional owners and users of real estate; government agencies; and foundations. For more information, visit www.draperandkramer.com.
About the Commercial Finance Group (CFG)
For more than 125 years, Draper and Kramer, Incorporated, has sourced commercial real estate debt and equity used to acquire, develop, renovate, refinance and recapitalize assets across property sectors and markets throughout the U.S. Today, through its Commercial Finance Group (CFG), the company continues that tradition with innovative financing solutions at all levels of the capital stack that are offered to third-party clients and used by Draper and Kramer for its own investments. As a service- and relationship-driven business, CFG prides itself on longstanding partnerships with more than 25 life insurance companies, some of which date back more than a century. For more information, visit www.draperandkramer.com/what-we-do/commercial-finance-group/.
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Editors:
For more information, contact Sarah Lyons, [email protected], (312) 267-4520.
