The former Macy’s Furniture Gallery at the northwest corner of Golf and Meacham roads in Schaumburg is being demolished to make way for new restaurants and stores in a proposed five-building development called Crossroads of Schaumburg.

Lazy Dog, Velvet Taco, Naansense, Crisp & Green, Piccolo Buco and Cava are the named restaurants already leased for the 7.5 acres at that corner of the busy intersection, said Savas Er, principal of North American Real Estate.

The project, which would include a complementary retail presence, is 90% leased, he said.

“We are working with the village on the site plan approval,” Er said.

Schaumburg Economic Development Director Matt Frank said the plans being prepared already reflect the village staff’s feedback on earlier versions.

Er expects the plans to be ready for consideration by the zoning board of appeals and the village board within the next couple of months and hopes the new businesses would all open at about the same time next spring.

According to the project’s marketing materials, about 64,000 vehicles per day pass through the intersection.

The building now being demolished has been vacant at least six years, Frank said. It’s old enough to have been constructed for Marshall Field’s before Macy’s rebranded it along with the department store at Woodfield Mall near the southeast corner of the same intersection.

When first built at 1200 N. Meacham Road, the Marshall Field’s Home Store had replaced a research and development lab, Frank said.