The Lake Zurich Mayor and Board of Trustees recently gave the green light to a large, new housing development on a nine-acre property that has been in the works since 2022.
The original plan, submitted in 2022 and subsequently denied, proposed 50 townhomes in 12 buildings at 670 S. Old Rand Road. The Village denied that proposal over concerns of density a concern over plus wetlands protection. Still, OSK Capital Partners, a Highland Park real estate developer, did not give up the idea and earlier this year presented a plan to the planning and zoning commission which passed.
On Sept. 3, town leaders followed suit and approved developing 18 townhomes and 18 single-family detached homes in a smaller-scale version of the initial proposal. The homes are expected to sell from half a million to nearly a million dollars, depending on whether they’re townhomes or single-family residences. The whole project should wrap up in two years.
In addition to the homes, according to a Lake Zurich development memo, a third of the property will be developed to protect on-site wetlands and turn them into an attraction with a gazebo overlooking the wilderness area.
A spokesperson for the owner of the property, Henry Joern, urged the Village to approve the development deal as they’ve been trying to sell the land for years and they believe it will add value to the village.
“For 10 years, we’ve been trying to find the right fit, something that will benefit this town,” Linda Joern said. The family thinks the OSK Capital Partners’ plan will complement the existing neighborhoods and add a “hometown feel” to the area, an improvement over the current “rundown” home on the land, she said.
“It will only increase the value of neighboring properties,” she told the Village Board.
Lawrence Freedman, a lawyer representing OSK, said the proposal will protect the wetland and reduce the residential density from the original plan while also providing ample parking. After a quick review of the new proposal, the board seemed pleased with the improvements.
“I like this,” said Trustee Marc Spacone. “I like the balance between the multifamily and the single-family homes.”
Spacone asked Lake Zurich Community Development Director Sarosh Saher how the village could ensure the developments wouldn’t all look the same, and Saher said the town already has an anti-monotony provision in the building codes, and the outsides would be different.
“Here we are in a much different space, with a much nicer community, so thank you for the stick-to-itiveness and the work and the effort,” Spacone said.
Mayor Tom Poynton agreed the effort was worth it.
“The process has created a much better product,” he said. “We also appreciate the fact that you listened to the people who spoke during the process.”
He added that the development could be one of the nicer developments in the village.
“The process worked,” Poynton said. “This is a classic example of everyone coming together and putting in their two cents.”
Jesse Wright is a freelance reporter for Pioneer Press.
