On the edge of Three Oaks Recreation Area in Crystal Lake is a new mixed use development nearing completion. Water’s Edge, a development by Heartland Real Estate Partners, opens in 2025 with 240 apartments, 20 townhomes and a variety of new restaurants.
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Situated in the bustling Northwest Highway Route 14 commercial corridor and connected to outdoor recreational opportunities, Water’s Edge brings together needed apartment rental housing and high quality commercial in a walkable new neighborhood.
A northwest suburb of Chicago, Crystal Lake is a city of 40,000 with an average income of over $105,000. It has two Metra train stations and is just 35 miles from O’Hare International Airport.
Crystal Lake is also home to more than 2,500 businesses, has over $1.4 billion in annual retail sales and is ranked in the Top 20 for Chicagoland Metropolitan Area Retail Sales establishing itself as one of the Chicago region’s fastest-growing and largest communities.
Water’s Edge will provide residents the opportunity to live, play, and work while also setting up retailers for success within the community. According to the Managing Principal of Heartland Real Estate Partners, Tim Grogan, “because of the location of the property, we have really great commercial opportunities. We’re right on Route 14 with a significant traffic impact for retailers, restaurants, and other types of users.”
Now is the opportunity to join the rapidly growing community in Crystal Lake with Water’s Edge. Grogan also said, “we’ve developed a lot of properties around the country, but this one is special. Water’s Edge is going to be the development that I’ll hang my hat on at the end of my career. Working with the City has been easy, they’ve welcomed us with open arms and they were able to help us break ground as soon as we possibly could.”
Beyond Water’s Edge, Crystal Lake offers excellent quality of life and housing opportunities. Recently, the community welcomed The Enclave, a 99 unit mix of rental townhomes and apartments to the downtown. Multiple other housing projects are underway including Redwood, a 304-unit ranch-style townhome community; Clover Communities, a 121-unit age-restricted independent living apartment complex; and Woodlore Townes, a 47-unit townhome community.
Education and workforce opportunities in Crystal Lake are also expanding. McHenry County College recently unveiled the Foglia CATI building, a brand new state-of-the-art facility focused on industrial technology and equipment. The new addition to McHenry County College represents a new opportunity for residents who are looking to start successful careers in the skilled trades and provides training and education opportunities for employers.
Crystal Lake continues to be the Clear Leader in McHenry County and the northwest suburbs with consistent business growth year over year on top of an outstanding quality of life for residents. The City is always looking to attract new restaurants and retailers. If you are interested in learning more about available opportunities including Water’s Edge, visit ClearlyCrystalLake.com or contact the City of Crystal Lake at 815-356-3737 or via email at economicdevelopment@crystallake.org.
