Approved and graded in Lake Zurich, Lake County

The Reserves of Lake Zurich

36 approved homes and townhomes on about eight acres at South Old Rand Road and Buesching Road, on cleared and graded ground

For decades the block between South Old Rand Road and Buesching Road, on the south side of Lake Zurich, was a wooded lot with an old farmhouse on it and a creek along the back. The house is gone now, donated to the fire department for training and then cleared, and most of the site has been stripped and graded. What is approved to go on it is small and unusual for Lake County: 36 units, half detached houses and half townhomes, with roughly a quarter of the land kept as wetland behind a walking path and a gazebo.

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Nothing has been released yet. There is no price, no floor plan, no model to walk, no sales office to call, and no homebuilder has even been named. This page gathers what the public record actually establishes about the site and says plainly where that record runs out, including the part most pages would leave off: the project lost a year of construction and has not visibly restarted.

Area: Lake Zurich, Lake County
Builder: OSK Capital Partners

The Reserves of Lake Zurich fast facts

What the approval record and the county parcel record establish, and what has not been released. A line that says not yet released is the state of the record, not a gap in this page.

Where: 670 South Old Rand Road, between South Old Rand Road and Buesching Road, north of their intersection, on the south side of Lake Zurich in Lake County. See South Old Rand Road and Buesching Road, Lake Zurich, IL on the map
Developer: OSK Capital Partners of Highland Park, the applicant of record on the Village approval, with Pappageorge Haymes Partners as architect
Homebuilder: None named anywhere, including on the federal stormwater permit, which lists its operator as not yet determined. Get notified
Homes: 36 units: 18 detached single-family houses and 18 townhomes, individually owned and sold
Site size: About 7.8 mapped acres. Local coverage says about nine acres, which is the gross figure including road right-of-way
Preserved open space: About 1.96 acres of mapped wetland, roughly a quarter of the site, with a walking path and a gazebo overlooking it; the developer describes about a third preserved once buffer and creek corridor are counted
Lot sizes and plans: Not yet released, and they cannot be until a homebuilder is selected. Get notified
Status: Final planned development and development agreement approved by the Village Board in July 2025; a phased subdivision improvements and security agreement approved September 2026; land cleared and mass graded, with no visible change since September 2026
Schools: Lake Zurich Community Unit School District 95, a unit district, for both elementary and high school. Specific building not established
Flood: Both parcels mapped entirely outside the special flood hazard area, with no regulatory floodway
Plat and addresses: No final plat recorded and no addresses assigned, so there are no lot numbers and no interior street names yet

Nothing here has been released yet

No builder, no prices, no plans, no model. When those land, the list hears first.

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About The Reserves of Lake Zurich

This is a small, awkward, interesting site, and the approved plan is the fourth or fifth answer to a question the Village spent three years asking. The land is about 7.8 acres between two roads meeting at an angle, with a creek along the north edge, a quarter of it mapped wetland, and an old interurban railway right-of-way cutting the northwest corner. Too complicated to be easy, too close to downtown to be left alone.

The first proposal was 50 townhouses in twelve buildings, and the Village denied it in January 2023. Detached houses were added to the mix during 2024, the unit count came down by more than a quarter, and the revised plan earned a Daily Herald headline calling it a far more acceptable project when the Village Board granted it final approval in July 2025. What was approved is 36 units in total: 18 detached single-family houses and 18 townhomes, each individually owned and sold rather than rented.

Half detached and half attached on eight acres is not a common shape. It means two quite different kinds of buyer sharing one association and one stormwater basin, and it means the detached lots are likely to be modest, because 18 houses plus 18 townhomes plus two acres of preserved wetland does not leave room for large yards. Nobody has published lot dimensions, so that is an expectation rather than a fact, and worth asking about.

The approval came with real conditions attached, which are worth knowing because they tell you what the neighborhood will physically have. The developer owes the Village 277,000 dollars toward reconstructing Old Rand and Buesching roads. A pedestrian crosswalk goes in across South Old Rand Road. A six-foot screening fence with trees and landscaping goes along the south property line, between the new homes and the neighbors who were there first. The setback along Old Rand Road was allowed to come down to six feet, which still leaves 38 feet from the curb. And the project was required to finish within two years unless the Village approved a different schedule in advance, under a code amendment the Village adopted at the same meeting that approved this project.

The September 2026 improvements agreement split the work in two. The first phase is the public utilities and the southern end of the site. The second phase is the creek, the wetlands, the stormwater management area and the dwelling units at the north end. That ordering matters to a buyer: the complicated half of this site is also the last half to be built, so the homes nearest the creek and the preserved wetland, which are probably the ones people will want most, are the ones furthest out in time.

The year this project lost, and where it actually stands

Most coming-soon pages would stop at approved and under construction. The honest version here is more complicated.

The site is genuinely cleared and graded. Satellite imagery from September, October and November 2026 shows a large bare-earth area across the central and eastern two thirds of the parcel, with an excavated basin form inside it and the farmhouse and outbuildings gone, against earlier imagery showing wooded ground with buildings on it. The county assessment has struck the 1945 house from the roll and now classes both parcels as vacant residential land, and the county's own address point for the property is flagged undeliverable. The federal construction stormwater permit for the site remains in force, with no notice of termination filed, which means the operator has not declared the site stabilized and closed out. By every available measure, dirt moved here.

Then it stopped. In April 2026 the Village issued a stop-work order over unpaid site plan and wetland fees, since lifted, and two erosion-control violations were issued and corrected, itself a sign of bare soil sitting exposed on highly erodible ground. By the time the Village Board took up a phased improvements agreement in September 2026, its public works director said on the record that the Village had missed basically a year of construction, and the agreement required a larger letter of credit and a replenished inspection escrow.

Since that September agreement there is no evidence of restart. The disturbed footprint on the imagery is essentially identical in September, October and November 2026: no new road prism, no extension of the graded area, no new stockpiles. The only visible change is a little greening on one edge, which reads as temporary seeding to hold the soil rather than activity. The Village Board agendas since September carry no item for this project at all. None of that means the project is dead, and the live stormwater permit and the posted letter of credit both argue it is not. But if somebody tells you they are building right now, this is what the record says instead.

Location and what it is like around here

Lake Zurich is a village of about 20,000 in southwestern Lake County, built around the lake it is named for, and it has the thing most of its neighbors do not: an actual downtown with a lake at the end of it. This site is on the south side, a short distance down Old Rand Road from the middle of the village, on the stretch that runs parallel to Rand Road.

Paulus Park is the centerpiece and the reason people pick this village over the subdivisions around it: it sits on the lake and is the Village's beach and park, and it has been under an active improvement program. Breezewald Park is the second Village park, with its own 2026 project. Distances from this site, beach hours and access rules are not established and not worth guessing: walk it, or ask the Village. Downtown is mid redevelopment around Main Street, so the commercial core a buyer sees in two years may not be today's.

The commute is the honest weak spot. Lake Zurich has no Metra station. The nearest commuter rail is Barrington, on the Union Pacific Northwest line into Ogilvie Transportation Center, which means a drive or a ride to the station before the train. Published drive and journey times vary enough between sources that none is quoted here; check the Metra schedule and drive it yourself at the hour you would actually travel. By car, Rand Road and Route 22 are the two arterials and the site sits just off Old Rand Road, which parallels Rand.

Schools, taxes and the assessment mechanics

Schools were checked parcel by parcel, and the answer here is simpler than it often is in Lake County. Both parcels sit in Lake Zurich Community Unit School District 95. Because District 95 is a unit district, the elementary and the high school are the same district, so there is none of the elementary-in-one-district, high-school-in-another split that catches buyers out a few miles north of here. Community college is College of Lake County. Which specific school building serves this ground is not established and is not named on this page, because districts commonly set attendance areas for a new subdivision when it plats, and nothing here has platted.

On taxes, the useful thing this page can do is refuse to give you a comfortable wrong number. The composite rate for this parcel's own tax code could not be retrieved from the county, and a village-wide or county-wide median effective rate is not a substitute for it. Those medians are built out of older housing stock in other tax codes and other school districts, and applied to new construction in District 95 they understate the bill, sometimes badly. Anyone quoting you a Lake Zurich average as your tax estimate is giving you a number that does not describe your house.

What is established is the structure, which is what lets you check a quote. The bodies levying here are Lake County, Ela Township, the Village of Lake Zurich, District 95, the Ela Area Public Library District and College of Lake County. There is no park district levying on this site, because Lake Zurich runs parks through the Village, so any breakdown you are handed with a park district line on it is wrong on its face. Illinois equalized assessed value runs at roughly a third of market value. Get the real rate for this tax code from the county, in writing, before you sign.

On the two instruments people confuse: there is no tax increment financing district and no special service area mapped on these parcels as of November 2026, confirmed both from the county parcel record and from the state tax increment financing filings for the 2025 tax year, in which this tax code does not appear. That is today's answer, not a permanent one, because a dormant backup special service area is sometimes created at platting as a stormwater maintenance backstop under county rules and typically levies nothing unless an association defaults. And the distinction matters: a special service area is a levy on the parcels inside it, while a tax increment financing district does not add anything to a homebuyer's bill at all. It freezes the baseline for the other taxing bodies, and the effect falls on the schools, the library and the park bodies, not on you as a surcharge. A page that tells you a nearby district will raise your taxes has it backwards.

Water, wetland and what that means for a buyer

This is the most distinctive thing about the site and it deserves both halves of the story. On the current county mapping both parcels are mapped entirely outside the special flood hazard area, with no detailed-study acreage and no regulatory floodway on either. For a site with a creek running along its north edge that is a genuinely good result and better than most buyers would assume.

The wetland picture is substantial. About 1.96 of the 7.82 acres is mapped wetland under the county inventory, roughly a quarter of the land, and the developer describes about a third preserved once buffer and creek corridor are counted, with a walking path and a gazebo over it. The creek is to be stabilized and restored, and the stormwater plan calls for a wet-bottom basin, a pond rather than a dry depression, managed by the association.

The soils are the part nobody advertises. Both parcels carry hydric soils and both are classed as highly erodible land, 1.012 acres on the smaller parcel and 5.192 on the larger. That is precisely the condition that produces erosion-control violations on a stripped site, and this site got two of them and had to correct them. It is also why the improvements agreement treats the creek, the wetlands and the stormwater area as a distinct second phase rather than ordinary grading work.

For a buyer that mix is a real amenity and a real cost. Preserved wetland behind a path is nicer to live next to than another row of houses and cannot be built on later. It also means geese, wet spring ground, and an association of only 36 doors carrying a wet-bottom basin, a restored creek corridor and a path. Thirty-six households is a small base to spread that across, and it is what I would press hardest on in the budget.

What is still unknown, and what would settle it

A short, honest list: at this stage the gaps are the story.

The homebuilder. Nobody is named in the Village record, in local coverage or on the architect's own post, and the stormwater permit lists its operator as not yet determined. A named builder would settle plans, specification, warranty and price band at once. The biggest unknown here.
Whether work has restarted. Imagery through November 2026 says no, and the Village Board has taken no further action since September. A Village Board item, a visible road prism, or a notice of termination on the stormwater permit would each answer it.
The plat. None has recorded, so there are no lot numbers, no interior street names and no addresses. The county's plat records run several weeks behind, so recent silence is a reporting lag, not proof.
The real tax rate for this tax code, which the county holds and this page deliberately will not approximate.

Everything on this page is compiled from the public record as of November 2026 and is subject to change. Where the record is silent this page says so rather than filling the gap.

Buying new construction with Joe Keegan of Brokerocity

I'm Joe Keegan, a licensed Illinois real estate broker with Brokerocity, and Lake County is my own market. The Reserves of Lake Zurich is a community I can represent you in myself rather than hand you off to anybody.

Here is the part most people buying new construction do not know until it is too late. The person at the builder's sales desk is paid by the builder and represents the builder. You are entitled to your own broker instead, at no cost to you, and the builder has generally already budgeted for one whether you bring one or not. The catch is timing: you usually need to be registered as represented at your very first visit to the model or the sales trailer. Walk in alone and the builder may decline to recognize your broker afterward. Here that first visit has not happened yet for anybody, because there is no model and no homebuilder, which makes this the easiest possible moment to get it right.

What I actually do on a build like this one: read the purchase agreement and every addendum before you sign, including the delay and escalation language buyers skim; press on incentives, design center credits and closing cost contributions rather than taking the first sheet; and walk the site with you and say plainly when a homesite is not worth what is being asked, which on this one means being honest about the arterial frontage, the lots backing the basin and the north-end lots that come last. On a wet site with highly erodible soil I will also push you to book your own independent inspection early enough to matter, and to get drainage and grading items resolved before the warranty period runs out. On a project that has already lost a year, I will read the association budget and the completion schedule with you before you put money down.

If you want to talk it through, call or text me at 224-385-8779. If you would rather just be kept informed, the interest list below is the lower-effort option and I will not chase you.

Joe Keegan is a licensed real estate broker in Illinois. Joining the interest list does not create a brokerage relationship or any agency agreement.

How it compares nearby

Context for deciding whether to wait, dated November 2026.

Option	Where	What it is	Status, November 2026
The Reserves of Lake Zurich	Old Rand and Buesching, Lake Zurich	18 detached houses and 18 townhomes on about eight acres	Approved and graded, no builder named, nothing released
Resale in Lake Zurich	Across the village, District 95	Existing detached homes, same schools	The real price anchor: about 512,500 dollars average value and about 247 dollars a square foot, per a third-party aggregator
New construction elsewhere in southwest Lake County	Hawthorn Woods, Deer Park, Wauconda and nearby	Detached and attached product, varying scale	Where to look if you need to move inside a year, since nothing here can be bought yet
Waiting for this one	South side of Lake Zurich	Walk to a preserved wetland, small association	Reasonable if the timeline does not bind you and you want new construction inside this village rather than outside it

The short version: for brand-new construction in Lake Zurich itself, in District 95, this is the project, and it is at dirt stage with a year lost and no builder named. If you need to move soon, resale in the village and new construction nearby are the two real options. Every figure above carries its November 2026 date.

The Reserves of Lake Zurich questions

What is The Reserves of Lake Zurich?

It is an approved 36-unit residential planned development on about 7.8 acres at 670 South Old Rand Road in Lake Zurich, Lake County, between South Old Rand Road and Buesching Road. The approved mix is 18 detached single-family houses and 18 townhomes, with roughly a quarter of the site kept as mapped wetland and a walking path and gazebo overlooking it. The Village Board granted final planned-development approval and approved a development agreement in July 2025, and approved a phased subdivision improvements and security agreement in September 2026. The land has been cleared and mass graded and the old farmhouse on it has been demolished. No pricing, no floor plans, no model home and no sales office have been released, and there has never been a listing here.

Who is building the homes?

Nobody has been named, and that is the single most important gap on this page. The developer is OSK Capital Partners of Highland Park, working through the entity that owns the land, and the design architect is Pappageorge Haymes Partners. But no homebuilder appears in the Village record, in local coverage, or on the architect's own project post, and the federal construction stormwater permit for the site lists its operator as not yet determined. Until a homebuilder is selected, nobody can tell you what the floor plans, the specification level or the warranty will be. Subdiview is not affiliated with OSK Capital Partners, with Pappageorge Haymes, or with the Village of Lake Zurich.

How much will homes at The Reserves of Lake Zurich cost?

Nothing is priced and there is no price sheet, so there is no number to quote and we will not invent one. The only sourced price signal is third-party reporting at the time of the July 2025 approval, which said homes were expected to be priced between half a million and nearly a million dollars. Treat that as a reporter's expectation at approval, now about sixteen months old, for a project that has since lost a construction year, and not as a builder's price. For dated area context rather than prediction: as of November 2026 a third-party aggregator puts the average Lake Zurich home value at about 512,500 dollars and about 247 dollars a square foot. Join the interest list and you will hear when real numbers exist.

When will it open for sale?

No sales date has been announced, and any date you read anywhere should be treated as a target subject to change. The honest state of the record as of November 2026 is that the site is cleared and graded, the stormwater permit is live and un-terminated, and the Village has an executed improvements agreement and a letter of credit in hand, but satellite imagery from September, October and November 2026 shows no measurable change in the disturbed area and the Village Board has taken no further action on the project since September. Anyone telling you they are building right now should be shown that instead.

What are the homes like?

The approval sets the mix at 18 detached single-family houses and 18 townhomes, 36 units in total, each individually owned and sold. That is an unusual split for a small site and it is the result of a long revision: the original scheme here was 50 townhouses in twelve buildings and the Village denied it in January 2023. Detached houses were added to the mix in 2024 and the smaller, mixed plan is what was approved. Lot sizes, floor plans, elevations and square footages have not been released, because no homebuilder has been selected, so none are listed here.

What schools would it be in?

Lake Zurich Community Unit School District 95, checked parcel by parcel. Because District 95 is a unit district, the elementary and the high school are the same district, so there is no split of the kind that catches buyers out elsewhere in Lake County. Community college is College of Lake County. The attendance area for a specific school building is not established and no building is named on this page: districts commonly assign new subdivisions at platting, and nothing has been platted here. Confirm the building with the district once street addresses exist.

What will the property taxes be like?

The composite rate for this parcel's own tax code is not established, and this page will not substitute a village-wide or county-wide median in its place. Those medians are built from older housing stock in other tax codes and other school districts and they understate a new build in District 95, sometimes badly. What is established is the mechanics and the bodies: the levy here comes from Lake County, Ela Township, the Village of Lake Zurich, District 95, the Ela Area Public Library District and College of Lake County, and notably there is no park district levying on this site. Illinois equalized assessed value runs at roughly a third of market value, and two timing points matter: a new-construction parcel is assessed pro rata in its first year, and the first full bill arrives a year behind closing. Get the real composite rate for this tax code from the county before you sign anything.

Is there a special service area or a TIF here?

Neither, as of November 2026, and that was confirmed two separate ways. The county parcel record carries no tax increment financing district and no special service area on either parcel, and this parcel's tax code does not appear among the village's tax increment financing codes in the state filings for the 2025 tax year. The Village does have special service areas elsewhere and none of them maps to this site. Say none mapped today rather than none ever, because a dormant backup special service area is sometimes created at platting as a stormwater maintenance backstop under county rules, and typically levies nothing unless an association defaults. The two instruments get confused constantly: a special service area is a levy on the parcels inside it, while a tax increment financing district adds nothing at all to a homebuyer's bill because it freezes the baseline for the other taxing bodies, with the effect falling on the schools, the library and park bodies rather than on you as a surcharge.

Is any of the site in a flood hazard area?

No. On the current county mapping both parcels are mapped entirely outside the special flood hazard area, with no detailed-study acreage and no regulatory floodway on either one. That is a genuinely good answer and it is rarer than it sounds for a site with a creek on it. It is not a guarantee: mapping is revised, a creek crosses the north side of the property, and roughly a quarter of the site is mapped wetland. Check the specific address with the FEMA Flood Map Service Center once addresses are assigned, and read the final grading plan for your particular lot.

What about the wetlands and the creek?

They are the defining feature of this site and the reason the project shrank. About 1.96 acres of the 7.82-acre site is mapped wetland under the county wetland inventory, roughly a quarter of the land, and the developer describes about a third of the site being preserved once the buffer and creek corridor are counted, with a walking path and a gazebo overlooking it. A creek runs along the north side and is to be stabilized and restored. The soils are hydric and classed as highly erodible across both parcels, which is exactly the condition that produced the two erosion-control violations the site received and had to correct. The improvements agreement puts the creek, the wetlands and the stormwater management area in the second phase alongside the north-end homes, so the complicated half of the site is also the last half to be delivered, and the stormwater basin will be association-managed.

Why has it taken so long?

Because the project has had a hard few years and the Village has not been gentle about it. The first scheme was denied in January 2023 and had to be redesigned. After final approval in July 2025 a stop-work order was issued in April 2026 over unpaid site plan and wetland fees, two erosion-control violations were issued and corrected, and the Village's public works director said on the record that the Village had missed basically a year of construction. The stop-work order has since been lifted. The Village's response was to require a larger letter of credit, replenish its inspection escrow, and put the work under a phased agreement, having separately changed its code to require large projects to finish within two years and to let the Village draw on a developer's letter of credit. That is a village holding a developer to account, which is reassuring, and a real delay, which you should price in.

Is this for sale or is it a rental community?

Everything on the record points to for-sale homes, individually owned. Half the units are detached houses, the improvements agreement talks about occupancy permits for the dwelling units, the stormwater basin is to be association-managed, and local coverage of the approval referred to prospective buyers and to expected sale prices. There is no leasing page, no rent range, no apartment-style plan sheet and no rental operator or property manager anywhere, and neither entity behind the project has a rental portfolio. For completeness: no municipal document states for sale in those exact words, so this is what the record and the product indicate rather than a recorded fact, and a corporate entity holding the land before lots transfer is entirely normal for a for-sale subdivision.

Is it called The Reserves, or 670 Old Rand Road?

Both names are in use and neither is a recorded one. The Village and local newspaper coverage call it the Reserves of Lake Zurich, which is why that is the name at the top of this page. The architect titles its own project post after the site address instead, so you may see it as 670 Old Rand Road. No plat of subdivision has been recorded, so there is no official recorded subdivision name yet, and whatever a homebuilder eventually markets it as could differ again. If you are searching, try the street address as well as the name.

How do I get updates on The Reserves of Lake Zurich?

Join the interest list on this page. When a homebuilder is named, when pricing or floor plans appear, when the plat records or when work visibly restarts, the people on the list hear first, and I will tell you what I think of it rather than just forwarding it.

Get on the The Reserves of Lake Zurich interest list

A homebuilder, a price band, the recorded plat and the first visible restart all land at some point. The list hears first, and I will tell you what I think of it when it shows up rather than just forwarding it.

Joe Keegan is a licensed real estate broker in Illinois. Joining the interest list does not create a brokerage relationship or any agency agreement.

Subdiview is not affiliated with, endorsed by, or sponsored by OSK Capital Partners, Pappageorge Haymes Partners or the Village of Lake Zurich. Community names are trademarks of their respective owners and are used here for identification only. All community information is compiled from public records and is subject to change.