Schaumburg TIF district covers $151.8M for O'Hare logistics park

Schaumburg has put a dollar figure behind the tax increment financing district backing Chicago-based Logistics Property Company’s industrial project near O’Hare, and the village’s own number is larger than what has circulated in prior coverage.

Why it matters

The village board annexed a 70-acre stretch of Long Avenue in December 2025 and approved two tax incentives clearing the way for Logistics Property Company to build what is now called the 390 O’Hare Logistics Park, two buildings totaling 443,160 square feet on the site of 19 former homes near the Schaumburg Boomers’ Wintrust Field. The TIF district, Schaumburg’s fourth, was established in 2025 and runs through 2048. Demolition of the Long Avenue houses was underway by June 2026, clearing the parcel for construction.

The numbers

The Village of Schaumburg’s own TIF page states the 390 Gateway Logistics Redevelopment Project Area carries estimated eligible redevelopment project costs of $151.8 million, the cap on what the district can spend or reimburse under its redevelopment plan, with taxable equalized assessed value projected to climb to roughly $313 million by tax year 2047. That is a different figure from the $111 million the Daily Herald has separately reported the district is estimated to generate in eligible TIF funding over its 23-year life, as the assessed value of the 70 acres rises from about $2.8 million to roughly $53.5 million. The $151.8 million is the village’s ceiling on eligible project costs; the $111 million is a separate projection of funding the district is expected to actually generate over time. They describe related but distinct figures, not the same obligation, and neither has been reported superseded by the other.

What’s next

Logistics Property Company has said the project does not work financially without the incentive, according to village officials. The developer also holds an option on the adjoining 55-acre site occupied by Experior Logistics’ trucking headquarters at 1001 W. Irving Park Road, and plans to add two more buildings there if that deal closes, expanding the 390 O’Hare Logistics Park beyond the Long Avenue phase already under construction. Continued coverage out of Chicago will track whether the Experior acquisition closes and whether the village revises its cost or funding estimates once construction bids are in.