Lake Zurich Approves New Housing Development on Old Rand Road
The recent approval of a new housing development on Old Rand Road by the Lake Zurich Mayor and Board of Trustees marks a significant milestone for the community. This project, which has been in the works since 2022, involves the development of 18 townhomes and 18 single-family detached homes on a nine-acre property. The proposal, led by OSK Capital Partners, a Highland Park real estate developer, is a scaled-down version of the initial plan that was rejected in 2022 due to density concerns and issues surrounding wetland protection. This revised plan reflects a collaborative effort between developers, local government officials, and the community to balance growth with environmental and aesthetic considerations.
The homes, expected to be priced between half a million and nearly a million dollars, represent a blend of multifamily and single-family residences that are intended to complement the existing neighborhood. This mix offers diversity in housing options while maintaining a community-centric feel. Such a thoughtful approach to residential planning enhances Lake Zurich’s appeal to a broad range of prospective buyers and underscores the commitment of commercial real estate agents and developers to meet market demand without compromising community values.
In addition to the residential units, approximately one-third of the property will be dedicated to wetland preservation. This portion of the land will be transformed into a natural attraction featuring a gazebo overlooking the wilderness area. The commitment to protecting on-site wetlands not only addresses prior community concerns but also adds a unique feature that could enhance property values and draw prospective residents looking for a blend of modern housing and natural beauty. This aspect of the development underscores how commercial real estate agents in Lake Zurich can emphasize sustainability and community-centered design when working with clients.
The development has also been welcomed by the property owner, Henry Joern, who, along with family representative Linda Joern, expressed relief at finding a project that aligns with their vision and the village’s needs. After years of seeking the right fit for the land, the OSK Capital Partners plan is seen as a way to uplift and improve the area, replacing what was described as a “rundown” home with a development that will increase neighborhood property values. For commercial real estate agents in Lake Zurich and commercial property management professionals, this project offers an excellent example of how strategic development can revitalize underutilized spaces, benefitting both the immediate community and the broader market.
During a review of the new proposal, village officials praised the developers for their willingness to listen to feedback and make necessary adjustments. Trustee Marc Spacone expressed his appreciation for the balance achieved between multifamily and single-family homes, and he raised an important point about ensuring variety in the architectural design to avoid a monotonous appearance. Lake Zurich’s Community Development Director, Sarosh Saher, reassured the board that anti-monotony provisions are already in place within building codes to maintain aesthetic diversity.
Mayor Tom Poynton echoed the sentiments of collaboration and perseverance, highlighting the community’s role in shaping a better outcome. He commended the process as an example of productive collaboration, noting that the result is a development that reflects the collective input and commitment of all parties involved.
For commercial real estate agents in Lake Zurich, this development signifies more than just an expansion of housing stock—it represents an opportunity to market properties that cater to modern living standards while preserving environmental resources. The Old Rand Road project exemplifies how thoughtful planning and stakeholder collaboration can lead to community-oriented development that balances growth, sustainability, and quality of life. This initiative sets a positive precedent for future projects in Lake Zurich, demonstrating the value of adaptability, communication, and shared vision.
