Planned industrial buildings in Schaumburg require demolition of 19 unincorporated homes
A proposal for a pair of industrial buildings between Wintrust Field and Experior Logistics’ new trucking headquarters in southwest Schaumburg will require the demolition of all 19 houses along unincorporated Long Avenue.
The Chicago-based Midwest Region of Logistics Property Company LLC has pitched Schaumburg the plan to build the two spec buildings totaling 436,500 square feet on approximately 70 acres just west of Experior’s 55-acre site.
The company has all 25 properties under contract to buy, including the 19 homes and vacant land, some of which is owned by the village.
Homeowner Dina Menini said she never thought she’d leave the property she’s lived on for the past 25 years, but the presence of Experior has changed the peaceful, rural atmosphere she and her neighbors sought.
“Once they approved the truck stop, nobody’s going to want to buy our houses,” she said. “There’s no peace anymore. It was very disappointing.”
Owning a trucking company herself, she argued more than three years ago that such a facility was unlivable for neighbors. The noise of idling trucks is even worse than she’d imagined, she said.
Though the close-knit neighborhood was where a generation of kids grew up together and another is doing so now, Menini said she recognized Logistics Property Company’s offer as the best solution.
The oldest houses are about 55 years old, and she replaced hers with a new one 11 years ago. But she described the company’s offer as fair and reflective of the newness of her house.
Closing on the properties is expected this winter.
Though the practical decisions have been made, it remains an emotional time for her family and neighbors, Menini said.
“I can definitely say that when we close on our houses there won’t be a dry eye,” she added.
Not everyone signed the contracts immediately, but the last were done about a year ago, she said.
Schaumburg Economic Development Director Matt Frank said that’s when the company began a dialogue with the village that led to annexation talks and consideration of a tax-increment financing (TIF) district to help fund public improvements associated with the private development.
A study estimated that over the 23-year life of a TIF district, the equalized assessed value of the 70 acres would rise from today’s $2.8 million to about $53.5 million.
A review board of other affected taxing bodies will be established Oct. 13. The village board will hold a public hearing on the proposed TIF district Nov. 11 ahead of a possible approval Dec. 9.