Yes, but it's nothing like the IST lounge:
http://www.sabihagokcen.aero/passeng...ounges/thy-cip

SAW is a small airport; there's a food court on the upper floor, and I found the cafe (was it Starbucks?) to be a nice place to spend an hour in during a recent connection. Inexpensive drinks and snacks, comfortable chairs and sofas, and electricity socket (but no free wifi). It was very peaceful when I was there. The lounge didn't look much nicer.

Shuly