Schaumburg cuts prices for hangar rental to fill airport vacancies

Schaumburg officials are having problems renting out hangars at the village's airport and are actually reducing some hangar rental rates hoping to fill the vacancies.

Airport officials proposed the cuts to the village board last month, as they've struggled to rent out some of the larger hangars at Schaumburg Airport. Two of the six medium-sized hangars are currently available. These are large enough to house a twin-engine craft or a helicopter and have rented for $650 per month.

Schaumburg Airport, run by the village, has 52 hangars total. Its most popular are for single-engine planes. Those T-hangars range from 850 to 1,125 square feet and cost $400 a month. There's a waiting list of 65 fliers to rent them.

Schaumburg Director of Transportation June Johnson said the waiting list shows there's still interest in rentals despite a slumping economy that's seen some companies and individuals cut back on flights.

The Schaumburg village board voted Tuesday to cut the rental rates for the medium-sized hangars, with the goal of enticing those on the waiting list to rent a larger one to eliminate the vacancies.

Schaumburg officials heard from a party on the waiting list who expressed interest in renting a larger hangar for a reduced rate, which gave village officials the idea.

The village board agreed to reduce the cost of medium-sized hangars to as low as $400 per month, matching the cost of a smaller hangar. Johnson said her staff will start calling parties on the smaller hangers' waiting list and offer the available hangars for $450 per month reflecting the hangars' larger size.

"We're trying our best to be fiscally responsible and to keep our revenues as high as possible," she said.

The rental price will be ultimately be negotiated by Johnson and her staff and could be as high as $850 per month. Village officials want the option of increasing the rent if business picks up to the point where all the hangars get rented.

Meanwhile, at Chicago Executive Airport, owned by Prospect Heights and Wheeling, officials plan to replace hangars as early as next summer. Renting those new T-hangars will likely cost twice as much as the current $250 per month tag, said airport manager Dennis Rouleau. Chicago Executive has 29 out of 39 hangars occupied.

• Staff writer Madhu Krishnamurthy contributed to this report.