Development of Experior Logistics’ trucking headquarters in southwest Schaumburg delayed
Experior Logistics’ plan for a new trucking headquarters on 55 acres in southwest Schaumburg is at a financial impasse, officials say, with the village’s June deadline looming for the completion of buildings that haven’t even been started yet.
Schaumburg Economic Development Director Matt Frank said the company needs to lease 70% of its parking lot to other trucking firms to receive a loan enabling the construction of a headquarters building and gas station.
But some argue without the amenities already in place, it’s hard to secure tenants.
Having already approved one extension to June 2026, the village has declined a request for a further one, Frank said.
Representatives of Experior Logistics could not be reached for comment Monday.
The village is at the point of accepting the company’s public improvements to the site, including an access road to the nearby Metra commuter station’s parking lot.
But the current state of the commercial project is not what Schaumburg officials anticipated when they approved it in 2022.
“We don’t want this to be just a parking lot,” Frank said.
Experior bought the 55 acres of vacant land for $7.5 million from Schaumburg, which had owned it since 2004. The development was projected to create more than 200 jobs and generate more than $425,000 per year for the village through taxes on truck and fuel sales.
Schaumburg created a tax increment financing district for the land, allowing a portion of its property taxes to go toward the nearly $20 million in unanticipated wetland mitigation and other site costs identified by the Army Corps of Engineers, rather than to the local governments that would otherwise have received it.
June’s deadline on the village’s development agreement with Experior would bring the end of a promised portion of TIF funding for the project.
The site is adjacent to a newly approved project allowing Chicago-based Logistics Property Company’s plan to buy and demolish 19 unincorporated homes along Long Avenue to construct a pair of spec industrial buildings totaling 436,500 square feet.
A closing on those Long Avenue homes is expected later this winter.