Lakewood, N.J.-based Strategic Properties of North America sold the 364-unit Skyridge Club Apartments in Crystal Lake, Ill., to a venture led by Paul Chernawsky, Crain's Chicago Business reported.
The selling price of the property at 1395 Skyridge Dr. is unclear, but it is likely higher than the $50.9 million that Strategic Properties paid in 2016.
CBRE brokered the sale for the apartment complex.
An executive at Strategic Properties did not return calls, while Chernawsky declined to comment, the report said. CBRE also declined to disclose the price for the Skyridge Club Apartments, according to the report.
Chernawsky entered the real estate market after selling a stake in an auto warranties sales company he co-founded, Endurance Warranty Services, to private equity firm TRP Capital Partners in 2015.
