Chicago’s suburban real estate markets are changing.
For decades, much of suburban commercial development centered on office campuses, shopping centers, industrial parks, and residential subdivisions. Today, municipalities and developers are increasingly reexamining how these properties can support mixed-use environments, technology infrastructure, entertainment destinations, and new housing.
These changes are especially visible in communities such as Schaumburg, Hoffman Estates, Naperville, and Elk Grove Village.
Together, they illustrate why suburban Chicago deserves serious consideration from developers, brokers, investors, and construction professionals looking ahead to 2027.
Schaumburg: Creating a more connected commercial district
Schaumburg’s 90 North district is an important example of suburban redevelopment on a significant scale.
The district combines business, entertainment, hospitality, residential, and recreational uses near Interstate 90 and the Schaumburg Convention Center.
The redevelopment of the former Motorola campus into the Veridian community and the continued expansion of the 90 North Entertainment District demonstrate a broader effort to create destinations that are active beyond traditional office hours.
Recent investments include entertainment facilities, structured parking, public spaces, and planned mixed-use development.
The Village of Schaumburg has also supported The District at Veridian, a planned development that incorporates residential and commercial uses.
For the commercial real estate market, the significance is not simply new construction.
It is the attempt to establish a more integrated suburban environment where employers, residents, entertainment venues, and retailers reinforce one another.
That model has implications for retail leasing, multifamily demand, hospitality, and long-term property values.
Hoffman Estates: A new purpose for a former corporate campus
Bell Works Chicagoland demonstrates another emerging suburban development strategy: the repositioning of large corporate properties.
Located at the former AT&T research campus in Hoffman Estates, the approximately 150-acre property is being transformed by Inspired by Somerset Development.
The project incorporates office space, retail, dining, community services, and public gathering areas within a former corporate complex.
In June 2026, the development reached a milestone with the connection of the eastern and western portions of the main building.
Its progress illustrates the potential for older office campuses to accommodate new uses and changing tenant expectations.
Rather than treating vacant corporate real estate solely as a liability, developers are exploring how existing structures can become anchors for new mixed-use destinations.
The result is not a universal solution for every suburban office property. Successful adaptive reuse depends on acquisition costs, building configuration, infrastructure, financing, and market demand.
However, Bell Works provides a significant regional case study.
Naperville: Continued interest in suburban multifamily housing
In Naperville, development proposals such as CityGate II highlight ongoing interest in residential construction within established suburban employment and commercial districts.
In June 2026, a proposal from Willow Bridge called for a four-story, 297-unit apartment development on approximately five acres at the existing CityGate property.
The proposal illustrates how developers are exploring opportunities to add housing within areas already supported by commercial infrastructure and employment activity.
For brokers, investors, and developers, projects like CityGate II raise questions about apartment demand, development costs, zoning flexibility, parking requirements, and the relationship between residential and commercial uses.
A proposal is not the same as a completed development. Its approvals, financing, and eventual construction schedule must be evaluated separately.
Nevertheless, it reflects a broader interest in making established suburban commercial areas more residentially diverse.
Elk Grove Village: Infrastructure investment is changing industrial real estate
Elk Grove Village has long been recognized as one of the Chicago region’s major industrial and business centers.
Increasingly, it is also associated with data center development.
Research from CBRE identifies significant data center activity in Elk Grove Village and surrounding suburban markets, including investments by operators serving large technology and cloud-computing customers.
This type of development introduces considerations beyond traditional warehouse and distribution facilities.
Power availability, electrical infrastructure, connectivity, cooling requirements, and municipal coordination can determine whether a potential development site is viable.
The Village has also engaged in public discussions about the impacts of proposed data center development on nearby residential communities.
For real estate professionals, these developments emphasize the importance of assessing infrastructure readiness alongside location, land cost, and market demand.
The next phase of suburban development
These communities illustrate several distinct opportunities shaping suburban commercial real estate:
Redeveloping aging corporate campuses into mixed-use destinations.
Adding housing within established employment and retail centers.
Expanding entertainment and hospitality districts.
Accommodating infrastructure-intensive technology development.
Repositioning underutilized commercial land for changing market needs.
The opportunities are significant, but not uniform.
Each suburban market has different demographic trends, infrastructure limitations, political considerations, and development economics.
Successful investment depends on understanding those differences rather than treating suburban Chicago as a single real estate market.
Bringing regional development professionals together
APEX Chicago 2027 is designed to connect real estate professionals from Chicago, the surrounding suburbs, and the broader Midwest.
The June 2–3 conference will feature development discussions, Project Showcases, exhibitions, and curated introductions for professionals involved in sourcing, financing, developing, leasing, and operating real estate.
Developers with active or planned suburban projects are invited to explore opportunities to participate in the APEX Project Showcase.
Explore Project Showcase Opportunities
Sources and further reading
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