Longtime suburban Chicago builder Nitti Development is pursuing a big rental complex plan for the former Loeber horse farm site in Schaumburg.
Elmhurst-based Nitti Group LLC has submitted a proposal to build 357 rental units, comprising a mix of apartments, townhomes and rowhomes, on the 33-acre site west of Meacham Road, the Daily Herald reported.
The pitch comes almost four years after the Loeber family, which owns the property, tried to de-annex the land from Schaumburg. Several other development plans have been laid out for the site, with Toll Brothers’ 55-home proposal in 2005 being the only one approved by village officials before the company withdrew.
The southern phase of the Nitti proposal includes six four-story apartment buildings totalling 270 units, featuring a clubhouse with amenities such as a pool, fitness center and lounge area. Plans for the northern phase call for a blend of townhouses and row houses, offering two- and three-bedroom units and ranging from about 1,600 square feet to 2,000.
The Loeber family, which owns the property, had previously filed a disconnection lawsuit against Schaumburg in 2020, citing difficulties with village officials and their development standards. The lawsuit was dismissed in 2021.
The latest proposal is being under review by Schaumburg’s community development staff, with no specified timeline for a public hearing. Previous attempts to develop the site faced challenges such as economic downturns and housing market crises, and village officials unanimously rejected Pulte Homes’ 98-home proposal in 2016, citing the plan’s small lot sizes, according to the newspaper. Despite these setbacks, village officials maintain that these failures were not due to local guidelines.
Nitti has another big Schaumburg development project underway. The firm is also building a 149-home plan on 62 acres formerly owned by Palatine-Schaumburg High School District 211, between Summit Drive and Plum Grove Road in Schaumburg.
Outdoor amenities for the Loeber site’s apartments include fire pits, grilling stations, a dog run and pocket parks. There will be 477 parking spaces across the entire development.
—Quinn Donoghue
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