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ORLAND PARK, IL-Ravinia Plaza, anchored by Borders Books & Music and Pier 1 Imports, has been sold by Hamilton Partners Inc. to Tucker Development Corp. The 101,802-sf property at 15150 LaGrange Rd. in this southwest suburb was sold for $16 million, and mortgaged for $12 million.

Financing comes in the form of a 10-year non-recourse loan priced based on 10-year US Treasury rates and amortized over 29 years. It was arranged by the Deerfield office of Cohen Financial’s capital markets unit.

“This acquisition is a joint venture with specific investors including Syndicated Equities Corp. and follows our strategic plan of obtaining and improving assets for long-term ownership,” says Richard Tucker, president of the Highland Park-based company.

Tucker Development Corp. portfolio includes the Yorkville Marketplace in far west suburban Yorkville, Country Club Plaza in Country Club Hills and Wheatland Marketplace in Naperville.

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