UrbanStreet Group, a real estate investment and development firm, has broken ground on a 30-acre retail district at Veridian in Schaumburg. Located on the former Motorola campus, the mixed-use redevelopment will provide new shopping, dining, and entertainment experiences.
UrbanStreet Advances Vision for Schaumburg’s Veridian District
The recent groundbreaking marks a major step forward in a redevelopment effort nearly ten years in the making. In 2015, Motorola had revealed plans to relocate its headquarters to downtown Chicago, vacating its 225-acre property in Schaumburg.
The following year, UrbanStreet Group acquired the property and began planning its redevelopment. The Village of Schaumburg approved new zoning regulations in 2018, making way for Veridian’s long-term plan.
By spring 2023, village officials approved the master plan for Veridian’s retail district. The district is a 30-acre area located at the southwest corner of Algonquin and Meacham roads. Construction on infrastructure began in mid-2025, with The Fresh Market announced as the district’s first major tenant.
“This groundbreaking marks a major milestone in our vision to transform this former Motorola campus into a thriving community centerpiece for the Village of Schaumburg,” said Bob Burk, Managing Partner of UrbanStreet Group.
“Modern residences, energizing workspaces and curated retail come together within a walkable, urban-inspired design that’s unlike anything else in Chicago’s suburbs. Whether you’re looking for a place to call home, an office that sparks creativity or a local spot to shop and connect, Veridian will have something for everyone,” Burk added.
The first phase of the downtown district is expected to welcome residents in 2027, with retail openings beginning in fall 2026.
Features of the First Phase of the Retail District
The initial phase of the retail district of Veridian will feature 100,000 square feet of pedestrian-friendly retail space and dining options from around the world. The district will feature a 26,000-square-foot Fresh Market grocery store and 321 modern apartments.
The district will also host year-round community events and activities. Once fully completed, the district will be offering more than 200,000 square feet of retail and restaurant space. It will also have more than 600 residential units.
This expansion is an addition to the already thriving 225-acre Veridian development. It is home to TopGolf and other major corporate tenants like The Boler Company, Zurich North America, and DR Horton, and residential neighborhoods.
With construction underway, UrbanStreet Group is bringing new life to Schaumburg’s historic Motorola campus, setting a new standard for mixed-use development in Chicago’s suburbs.
