There is growing interest in the opportunities regarding construction and demolition wastes, such as glass and metal powders, for developing a circular economy and their transformation into new materials. This management and recycling of construction and demolition waste offers environmental benefits and conservation of natural resources. In this paper, new magnetic composite materials were prepared by wet chemical synthesis methods using crushed glasses and iron and steel waste powders as raw materials. The prepared iron-silicate composites were characterized by X-ray diffraction (XRD) and scanning electron microscopy (SEM) analysis, infrared (IR), ultraviolet-visible, and electron paramagnetic resonance (EPR) spectroscopy, and magnetic measurements. The XRD data confirm the formation of varied crystalline phases of the iron ions. The presence of the FeO crystalline phase was detected in the composites containing the iron waste powders. The inspection of the SEM micrographs revealed slightly better homogeneity for the composite material containing larger amounts of iron waste and heterogeneous morphology with cracks and random crystallinity for the composite doped with steel waste. By doping with different contents of iron or steel waste powder, structural modifications in the silicate network and the formation of new bands in the IR spectra were evidenced. The UV-Vis spectra were characterized by the absorption peaks for both the tetrahedral and octahedral geometries of the Fe ions and the octahedral coordination of the Fe ions with oxygen anions. The EPR data show resonance lines with g ~2, 4.3, and 6.4, corresponding to the Fe ions. Using hysteresis curves, the superparamagnetic properties of the iron-silicate composites were evidenced.