Sir:
You have hit on a very sore and contentious subject.
Please refer to Chapter 54, Article III of the following:
http://www.municode.com/Resources/gateway.asp?pid=13805&sid=13
Regarding Schaumberg speficially, the village IS a home rule municipality within Illinois. However, unless the Village has a home rule ordinance regarding firearms that conflicts with the county ordinance (i.e. one that specifically allows the so-called "assault weapons"), then I believe that Schaumberg is subject to the Cook County ordinance.
See here:
Sec. 54-92. Applicability.
(a) This article shall control the licensing of all firearms dealers within Cook County except in home rule municipalities which have a separate municipal ordinance specifically regulating the licensing of firearms dealers.
(b) Pursuant to Article VII, Section 6(c) of the 1970 Constitution of the State of Illinois, if this article conflicts with an ordinance of a home rule municipality, the municipal ordinance shall prevail within its jurisdiction.(Ord. No. 93-O-37, § 1-2, 10-19-1993; Ord. No. 94-O-33, 7-6-1994; Ord. No. 99-O-27, Pt. 1(1-2), 11-23-1999; Ord. No. 06-O-50, 11-14-2006.)
Regarding handguns, they are completely legal in Schaumberg, as long as the magazines in possession are reduced capacity (10 rounds or less).
This ban is contentious....some people argue that ANY home rule municipality is exempt from the County ordinance. I cannot see how that is true, or defensible. However, and on the other hand, Cook has had an "assault weapon ban" since 1993. How many people have been charged with violating that ban, during these 14 years? Zero. Thus, some argue that it's selectively enforced, at best, and that unless you are committing a crime with a banned weapon, you will not be charged or subject to arrest. Violation is a misdemeanor.
Moreover, you should know that you cannot be charged with possession of a banned firearm anywhere in Illinois if you use that firearm for lawful defensive purposes. Thus, the law is strange....it's illegal for you to possess it (e.g., an AK with 30 round mag) but if you use it in lawful defense per the IL Criminal Code, you cannot be charged with possessing the firearm illegally.
Welcome to Illinois.