Facelift for Lake Zurich's Liberty Lakes complex

Liberty Lakes in Lake Zurich will soon undergo major renovations to modernize the 20-year-old apartment complex.

Standard Property Co. and its director of acquisitions, Scott Alter, notified the village last month they wanted to purchase the property on Buesching and Main streets and make improvements. Built in 1990 by the U.S. Department of Housing and Urban Development, the complex features 70 units.

Dan Peterson, the village's director of building and zoning, said the building is structurally sound but needs some upgrades and modernization.

“They will give it a face lift. They like it because all 70 units are fully occupied. It's a good property and a good town that they see is a good investment,” Peterson said.

Among exterior improvements, decorative stone and brick elements will be added around all key entrance points. Decorative eyebrows will be added, as well as metal features to give shape to the building. Inside, electrical work will be done, as well as improving cabinets, carpeting, fixing windows and painting.

“The designs you are presenting look very nice. I think it will really spruce up the building and fit nicely into the neighborhood,” Trustee Jeffrey Halen said.

Peterson said Liberty Lakes will undergo an estimated $2.1 million in improvements. The work will be funded through a low-income housing rehab program through the Illinois Housing Development Authority.

“It's a building that hasn't had any serious investment or upgrading since it was built,” Village Administrator Bob Vitas said before the meeting. “It's basically giving the building a new life.”

Alter said it is expected the construction will begin within the next three to four months and will be completed within one year.