Schaumburg trustees approve village’s first residential conversion of office building
Schaumburg trustees unanimously approved a proposal to turn an office building into an apartment complex, the first such conversion in the village.
The 45-year-old, five-story story structure at 1699 E. Woodfield Road will be converted into the highly amenitized 98-unit Woodfield Apartments, though the conversion will occur around a dental practice on the ground floor that is the only remaining office tenant.
The building is owned by investors Subbu Iyer, Manen Kothari and Ajanta Talukdar, who hired Des Plaines-based GSP Development for the project based on the firm’s experience with similar conversions.
Company President Larry Debb told the village’s recommending zoning board last month the building is one of the most perfect he’s come across in both its existing design and high-profile location.
The project’s anticipated 16- to18-month time frame includes replacing the original facade with an aluminum surface with a wood appearance.
The interior work will carve out a mixture of 19 studio, 63 one-bedroom, and 16 two-bedroom apartments. Each unit will have its own balcony, laundry machines and temperature control.
A single-story garage for 100 vehicles will be constructed in the parking lot. The building’s amenities will include a fitness center, yoga studio, TV room, golf simulator, soundproof music room, self-service pet spa with a pet washing station and office suites in the basement.
While Schaumburg planners expect the project to be influential in a challenged office market, they believe the number of ideal opportunities to mimic it in the village will remain limited.
The idea unites two existing village initiatives to repurpose underutilized office properties and introduce tall, dense residential buildings to the walkable business district south of Woodfield and west of Streets of Woodfield.
The project needed a variance because it is not the minimum seven stories now required.
Remaining land on the site is being considered for a new building that would match height requirements, but there are no formal plans submitted yet.