Schaumburg approves two industrial buildings, tax incentives for newly annexed neighborhood

Posted December 10, 2025 8:09 am

Eric Peterson

Schaumburg village officials Tuesday annexed the homes along unincorporated Long Avenue east of Wintrust Field and approved their replacement by two industrial buildings after the developer completes the purchase of the residential properties early in the new year. John Starks/jstarks@dailyherald.com

Schaumburg trustees Tuesday approved the annexation of 19 unincorporated homes, their replacement by a pair of spec industrial buildings, and two different tax incentives to assist the project’s financial viability.

One of the last steps for Chicago-based Logistics Property Company to construct its buildings totaling 436,500 square feet is to close on its contracted purchase this winter of the homes and vacant property along Long Avenue that are now within Schaumburg’s southwest corner.

Long Avenue lies between Wintrust Field to the west and Experior Logistics’ new trucking headquarters to the east. Its oldest homes are about 55 years old.

Homeowner Dina Menini said in September she never thought she’d leave the property she’s lived on for the past 25 years, but the presence of Experior had changed the peaceful, rural atmosphere she and her neighbors sought.

She added the last contracts to sell to Logistics Property Company had been signed about a year earlier.

Along with the project approval, village officials created a new tax increment finance district of 70 acres that also includes Wintrust Field and the north parking lot of the Schaumburg Metra station to the south.

A site plan for Logistics Property Company's newly approved pair of industrial buildings in southwest Schaumburg that will replace the unincorporated residential street of Long Avenue. Courtesy of village of Schaumburg

Schaumburg Economic Development Director Matt Frank said Wintrust Field and the commuter station parking lot were included in the district in case improvement projects on their sites become desirable over that long period of time.

A TIF district works by freezing the amount of property taxes local governments receive at the level of the first year. As the property is redeveloped and increases in value, the additional taxes go to a municipally held fund for public improvements and other eligible costs.

This TIF district is estimated to generate $111 million in eligible funding over its 23 years.

The newly annexed residential street of Long Avenue, left, that now neighbors southwest Schaumburg’s Wintrust Field is planned to be razed next year to make way for a pair of village-approved industrial buildings that also will border Experior Logistics’ new trucking headquarters to the east. John Starks/jstarks@dailyherald.com

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

The board also recommended the Cook County Board approve a Class 6B tax incentive. These are meant to encourage industrial development in Cook County.

A 6B incentive essentially cuts a site's property taxes in half for 10 years, after which they gradually increase during the 11th and 12th years before returning to normal.