Crystal Lake, IL
SPNA was presented with a unique opportunity to acquire Skyridge Club Apartments—a 364-unit, high-quality asset with excellent upside potential and very limited competition in Chicago’s northwest suburbs. SPNA seized the opportunity and transformed Skyridge Club into a desirable rental property.
Address 1395 Skyridge Drive
Total Units 364
Skyridge Club is located in the heart of Crystal Lake, a northwest suburb that boasts significant economic drivers, outstanding demographics, top-rated schools, exceptional connectivity and extensive retail options. Abundant open space and lush landscaping create a country-club feel that attracts affluent young professionals and families.
Skyridge Club was constructed in two phases, in 1988 and 2000. Since 2013, Skyridge Club has achieved annual occupancy of 95% or higher. Given the property’s historically high occupancy, the property offered additional upside via rent increases.
SPNA upgrades included spacious, one- and two-bedroom floor plans and community amenities such as an outdoor swimming pool, volleyball court, tennis court, playground and fitness center. The renovation scope for interiors includes quartz countertops, new gray cabinetry and Faux stainless appliances, as well as laminate wood flooring in kitchen, dining area and bathrooms.