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Chicago & Midwest  + Greater Chicagoland  + Apartments  | 

Western Chicago Suburb Schaumburg Approves Conversion of Offices Into 411 Apartments

In the latest example of innovative solutions to the poorly performing office market, the west suburban Chicago suburb Schaumberg has approved the conversion of three office buildings into a 411-unit apartment complex, according to the Daily Herald.

On Tuesday village trustees unanimously approved RMS Properties’ proposal to convert the former Atrium Office Center into a four-story apartment complex with five wings consisting of a total area of 12.6 acres.

The proposed unit mix includes 51 studios, 260 one-bedrooms, 92 two-bedrooms and eight three-bedrooms. Construction is expected to take more than a year.

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About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.

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