Crystal Lake Growth Opens Door for Redevelopment and New Development
Crystal Lake experienced its first boom in the late 1960s and again in the 90s. As 2021 comes to a close, the northwest suburban Chicago community of 40,000 continues to experience significant growth, cementing it as a Clear Leader in the Chicago area.
Commercial property investments were spurred this year by numerous housing developments. Woodlore Estates by Lennar is exceeding its projected timeline and is more than halfway complete with its 500-unit community of single family, townhome and age-restricted homes. The Springs of Three Oaks, a 280-unit luxury apartment complex, is wrapping up construction and residents are already moving in.
Redwood of Crystal Lake, adjacent to The Springs of Three Oaks along the Route 31 corridor, is in the process of developing a 305 townhome-style apartment complex. Luxury apartments and townhomes are also proposed near downtown at the corner of Main Street and Crystal Lake Avenue.
In addition, a 30-acre mixed-use development next to the pristine Three Oaks Recreation Area along the main commercial corridor is being finalized and could add 271 housing units and approximately 68,000 square feet of new restaurant and retail space.
Crystal Lake continues to grow because of its family atmosphere, excellent schools and high quality of life. The historic downtown, two Metra stops and a mix of local, regional and national restaurants round out a community that residents love—and investors do too. “Crystal Lake is an amazing place to develop because of all that it provides,” says Scott Guerard of Lennar Corporation, which developed Woodlore Estates.
“We continue to grow and reinvent the city,” says Mayor Haig Haleblian.
Recent growth has sparked demand, filling several vacant sites in key commercial corridors, encouraging reinvestment in multiple shopping centers and leading to the development of a prime commercial junction at Route 31 and Northwest Highway.
Along the Route 31 commercial corridor, Mercyhealth began construction on a new $105 million facility, opening in 2023. At the same time, Thorntons is nearing completion of its project within this corridor. Together, these reinvestment projects present a rare commercial opportunity for more development at this key commercial junction with extensive Northwest Highway frontage. Crystal Lake welcomes investors looking to enter the market at this highly trafficked gateway to the city’s two major commercial corridors.
In addition to the right location for business, Owner of Brilliance Honda, Kevin Keefe points to the city’s pro-business approach as another reason Crystal Lake is a clear leader. “The City is actively trying to recruit businesses and they do a good job of it,” says Keefe. “There’s a proven track record of growth. It’s obvious with the retailers that are here. You can tell everyone believes this is the right place to be.”
Discover upcoming developments and available opportunities by contacting the City of Crystal Lake or visiting ClearlyCrystalLake.com.