Sale of 800 Pratt Avenue

The Village of Schaumburg, IL will accept proposals via the Village's e-Procurement Portal, OpenGov https://procurement.opengov.com/portal/villageofschaumburg for 2025-RFP-057 , Sale of 800 Pratt Avenue to be received no later than Friday, August 22, 2025 , 1:00 pm . Proposals submitted after the specified time will not be accepted.

The subject property at 800 Pratt Avenue is located in the southwestern part of the Village of Schaumburg’s corporate limits, just north of I-390 in the 390 West Gateway Industrial Park. The property is 5.92 acres in size and completely undeveloped. The Village of Schaumburg is looking to get at least $3,900,000 for the property to recover the acquisition cost. The subject property is within a TIF District.

Schaumburg is the largest center of economic development in the State of Illinois, outside the City of Chicago. In addition to the 9.5 million square feet of retail and restaurant space, the village has over 12 million square feet of office space and 13.5 million square feet of industrial space.

With a daytime population of 150,000, thousands of businesses, 31 hotels, over 250 restaurants, a highly educated workforce, superb location, and high quality of life, Schaumburg is 'The Place for Business’.

The Village is committed to the development of the 800 Pratt property, as well as 390 West Gateway Industrial Park area, and plans to work closely with the selected developer to ensure the site’s successful development. Given the proximity of the 390 West Gateway Industrial Park, Interstate 390, Metra station, and recreational amenities, the Village anticipates development of the site to be consistent with industrial development, including but not limited to manufacturing, warehousing, and office users. However, other uses may be considered depending on the proposals received. The Village is seeking developments that will have significant employment and generate increment on the site that compliment other users in the 390 West Gateway Industrial Park.

Development proposals must comply with all applicable Village of Schaumburg codes and ordinances, including but not limited to zoning, building, and life safety. Specific to zoning, the Village places particular importance on parking and landscaping regulations. Development proposals shall also comply with all Village planning documents. These plans included but are not limited to the Village’s Comprehensive Plan , Irving Park Road/Wise Road Plan , and TIF Redevelopment Plan .

Site Layout & Conditions

Key site characteristics are as follows:

• Site Boundaries & Dimensions. The site consists of approximately 5.92 acres of land, all of which is owned by the Village of Schaumburg. The Illinois Department of Transportation Excess Right of Way Plat is attached.

• Site Zoning. The site is currently zoned Manufacturing (M-1). The site is projected to be used for industrial development, including but not limited to manufacturing, warehousing, and office users.

• Site Improvements. The site is completely vacant so no building demolition will be required. Access to the site is from Pratt Avenue to the east. The Village is open to allowing for the removal of Pratt Avenue right of way to enable additional development on site.

• Site Environmental Condition. The village contracted with True North Consultants in 2024 to conduct a Phase I Environmental Site Assessment which is attached.

• Site Utilities. The site is currently served by water, sanitary sewer, and storm sewer along Pratt Avenue.