History of Gatewood in Schaumburg
The Gatewood coach home subdivision is located north of Schaumburg Road and west of Plum Grove Road next to Dunbar Lakes in Schaumburg. This 24-acre piece of land has 232 nicely designed units consisting of one, two, and three-bedrooms. It was constructed by Lexington Homes in the 1980s. The Gatewood community offers 8 styles arranged in two story buildings that include private attached garages, individual laundry facilities and a private balcony or patio overlooking beautiful maintenance free landscapes.
Gatewood gained popularity due to the Lexington Homes reputation and most importantly its location. Lexington Homes was an innovative company. They developed and installed a computerized program called The Payment Estimate Model at each of their Chicagoland communities. It was designed to alleviate the difficulty, stress and anxiety that home buying can cause. It took the mystery out of mortgage payments by breaking down the customer's selected homes and offered a systematic way to review a potential buyer's finances. The program allowed the prospective buyer to compare payments under several possible mortgages, established the amount of down payment needed for a particular mortgage, examined after tax benefits of home ownership and even pre-qualified people for a mortgage, all in a matter of minutes.
The Gatewood community was and continues to be in a prime location. It is only a few minutes away from all that Schaumburg and Hoffman Estates have to offer including the popular Woodfield Mall, Schaumburg Golf Club, Spring Valley Nature Center, and the highly rated Conant High School.