Schaumburg’s first approved residential conversion of office building facing delays

Though approved 15 months ago, Schaumburg’s first proposed residential conversion of a vacant office building has yet to make any noticeable changes to the 46-year-old structure in question.

Though primary owner and partner Subbu Iyer said last month the five-story building at 1699 E. Woodfield Road, renamed Woodfield Heights, is making progress toward its goal of bearing 98 apartment units, there are no outward signs of its conversion.

When approved in 2025, it was touted as a project that would take 16 to 18 months to complete.

Last month, Iyer said the project was at the point of comparing bids, finalizing selection of a contractor and securing necessary approvals from the village.

“We’re pleased to share that financing is fully secured, and the project is well-positioned to move forward as one of the first major conversion initiatives in the Woodfield area,” he said at the time.

Schaumburg Economic Development Director Matt Frank said some conversations have occurred about a second phase involving construction of a new tower, but the project already has all the approvals it needs to convert the existing building to apartments.

The planned conversion is seen as potentially precedent-setting as a way to repurpose underutilized office space in the village, he added.

“We want to see him proceed with this and have success with it,” Frank said.

The project calls for the original facade to be replaced 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 is also planned 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.

Along with Iyer, the building is also co-owned by investors Manen Kothari and Ajanta Talukdar who together hired Des Plaines-based GSP Development for the project based on the firm’s experience with similar conversions.

The project 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.

In fact, the project needed a variance because the building doesn’t have the minimum seven stories now required.