Schema induction involves creating a graph representation depicting how events unfold in a scenario. We present SAGEViz, an intuitive and modular tool that utilizes human-AI collaboration to create and update complex schema graphs efficiently, where multiple annotators (humans and models) can work simultaneously on a schema graph from any domain. The tool consists of two components: (1) a curation component powered by plug-and-play event language models to create and expand event sequences while human annotators validate and enrich the sequences to build complex hierarchical schemas, and (2) an easy-to-use visualization component to visualize schemas at varying levels of hierarchy. Using supervised and few-shot approaches, our event language models can continually predict relevant events starting from a seed event. We conduct a user study and show that users need less effort in terms of interaction steps with SAGEViz to generate schemas of better quality. We also include a video demonstrating the system.