Business

CBRE brokers sale of Crystal Lake apartments

Posted October 02, 2019 1:00 am

CRYSTAL LAKE - CBRE recently represented Strategic Sky Ridge LLC in the sale of Skyridge Club Apartments, a 364-unit multifamily property at 1395 Skyridge Drive in Crystal Lake, to Chern Skyridge LLC.

Terms of the sale were not announced.

Skyridge Club Apartments is a luxury garden-style apartment community offering a mix of one-bedroom and two-bedroom units, for an average square foot size of 930 square feet. Originally built in 1988, the property added a second phase in 2000. Since 2017, 30 percent of the units have received premium upgrades, including granite countertops and stainless steel appliances. The property is currently 96 percent occupied.

The community amenities include basketball and tennis courts, a heated pool, fitness center and clubhouse. The property includes 600 parking spaces.

John Jaeger, Dan Cohen, and Justin Puppi of CBRE represented Strategic Sky Ridge LLC, an affiliate of Strategic Properties of North America with offices in Lakewood, NJ and Chicago.

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