News

Schaumburg seeking third TIF district to spur redevelopment in town’s southwest corner

Posted October 03, 2025 4:55 pm

Eric Peterson

Schaumburg is asking leaders of other local governments to endorse a tax increment financing (TIF) district to facilitate the replacement of the 19 houses on Long Avenue between Wintrust Field and the Experior Logistics transport company with a pair of spec industrial buildings. John Starks/jstarks@dailyherald.com

Schaumburg officials are seeking input from leaders of other local government agencies, including school and park districts, on a proposal for a third tax increment financing district to spur industrial redevelopment in the village’s southwest corner.

The change would allow public funding for infrastructure improvements on approximately 70 acres along an unincorporated stretch Long Avenue where 19 homes currently stand. A developer is looking to build two spec industrial facilities totaling 436,500 square feet near Wintrust Field and Experior Logistics’ new trucking headquarters.

Approval by the village board in December would create a contiguous area covered by TIF districts that also includes one for Experior’s 55 acres and another to modernize the aging 573-acre Centex industrial park.

“This development would not happen without TIF assistance,” Schaumburg Economic Development Director Matt Frank said. “Hopefully this is a win-win for everyone.”

A TIF district works by freezing the amount of property taxes local governments receive at the level of the first year for up to 23 years. As properties within the district are improved and rise in value, the incremental increase in their taxes goes to a municipally held fund to pay for eligible public improvements.

Representatives from underlying tax districts are expected to meet at 1:30 p.m. Oct. 13, to discuss support of the TIF proposal.

A drawing of the west side of one of the two spec industrial buildings being proposed for southwest Schaumburg by Logistics Property Company LLC. Courtesy of village of Schaumburg

Chicago-based Logistics Property Company LLC already has all 25 properties under contract to buy in the proposed district, including the 19 homes and vacant land, some of which is owned by the village.

Though not unmoved by the imminent loss of her family’s home of the past 25 years, resident Dina Menini said the peaceful, rural atmosphere she and her neighbors sought has been disrupted by Experior’s development next door and the sound of its idling trucks.

A site plan for Logistics Property Company's proposal for a pair of industrial buildings on 70 acres in southwest Schaumburg that would replace the unincorporated residential street of Long Avenue. Courtesy of village of Schaumburg

She added that Logistics Property Company’s offer was fair and reflective of the newness of the house she built 11 years ago to replace the original.

Logistics’ Vice President Ben Fish said the proximity of Experior was part of what sparked his company’s interest in the site.

“The synergistic uses between Experior and what we build definitely was an attractive piece to this puzzle,” he said.

A study estimated the equalized assessed value of the 70 acres would rise from today’s $2.8 million to about $53.5 million over the proposed TIF district’s lifetime.

Following the joint review board’s recommendation, the village board will hold a public hearing on the proposed TIF district Nov. 11 ahead of possible approval Dec. 9.