October 2, 2019
CBRE recently represented Strategic Sky Ridge LLC in the sale of Skyridge Club Apartments, a 364-unit multifamily property at 1395 Skyridge Dr. in Crystal Lake, IL, to Chern Skyridge LLC. The sales price wasn’t disclosed.
The team of John Jaeger, Dan Cohen and Justin Puppi represented Strategic Sky Ridge, an affiliate of Strategic Properties of North America with offices in Lakewood, NJ and Chicago.
Skyridge Club Apartments is a luxury garden-style apartment community in Chicago’s northwest suburbs. Originally built in 1988, the property added a second phase in 2000. The property is currently 96% occupied.
“This is an amazing property in one of Chicago’s most difficult suburbs to add new supply, resulting in continued pent-up demand and strong rent growth,” said Jaeger. “With the recent investments from the seller, this property will compete with new product and offer a high-end, luxury experience.”
Connect Chicago Fall 2019 will take place Oct. 29 in Chicago. For more information, or to register, click here.
For comments, questions or concerns, please contact Paul Bubny