Since $\Omega K(G, n+1)$ is a $K(G,n)$, we have a CW approximation/homotopy equivalence $K(G,n) \xrightarrow{\sim} \Omega K(G,n+1)$. The adjoint of this map is a map $\Sigma K(G,n) \to K(G,n+1)$. What is this map? Is it a homotopy equivalence?
Hatcher [SSAT, ch.2] asserts that "the Freudenthal suspension theorem implies that [this map] induces an isomorphism on homotopy groups up to dimension approximately $2n$", but I don't see how to apply the Freudenthal suspension theorem here.
I know that $\Sigma K(G,n)$ and $K(G, n+1)$ are homotopy equivalent, but I don't know why the adjoint map gives a homotopy equivalence [EDIT: As Andreas pointed out, it's not.]. (Or if it is at all: Hatcher seems to suggest that the map may fail to be an isomorphism for higher dimensional homotopy groups, which is odd since the two spaces has trivial homotopy in higher dimensions. Curiously, we can apply the Freudenthal suspension theorem for the homomorphism $\pi_i(K(G,n)) \to \pi_{i+1}(\Sigma K(G,n))$, and this is an isomorphic for dimensions $< 2n-1$.)
All this is supposed to be an easy observation of the homotopy groups of the Eilenberg-Maclane spectrum, so I think I'm missing something obvious. On that note, why do we not simply define the map $\Sigma K(G,n) \to K(G,n+1)$ to be some homotopy equivalence between the two $K(G,n+1)$'s [EDIT: This is completely wrong. Whoops.], but instead define it to be the adjoint of a homotopy equivalence?
EDIT: So I made a really silly mistake in thinking that $\Sigma K(G,n)$ is a $K(G, n+1)$, as pointed out in the comments. I'm keeping the offending sections of the question, so the comments make sense, but I would still like to know why the map $\Sigma K(G,n) \to K(G,n+1)$ induces isomorphisms in homotopy in low ranges.
I think I managed to figure it out. I'm not sure if this answer interests anybody else, but I'm including it below for completeness (and possibly to solicit pointers on where my reasoning is going astray, again...). Please feel free to post your own answers or even comments on this answer to elucidate parts of the argument where I'm too hasty.
Fix a homotopy equivalence $f: K(G,n) \xrightarrow{\sim} \Omega K(G,n+1)$. Consider the composite of the maps: \begin{equation*} [S^i, \Sigma K(G,n)] \xleftarrow{\Sigma} [S^{i-1}, K(G,n)] \xrightarrow[\cong]{f \circ} [S^{i-1}, \Omega K(G,n+1)] \xrightarrow[\text{1:1}]{(\epsilon \circ) \circ \Sigma} [S^i, K(G,n+1)] \end{equation*} where $\Sigma$ denotes the suspension maps and $\epsilon$ is the counit of the adjunction.
By the Freudenthal suspension theorem, the first map is an isomorphism when $i < 2n$, and thus the composite is a bijection of sets at least when $i < 2n$.
The composite takes an element $\alpha \in \pi_i(\Sigma K(G,n))$ to the class of $\epsilon \circ \Sigma(f \circ \Sigma^{-1} \alpha) = (\epsilon \circ \Sigma f) \circ \alpha$. Since $(\epsilon \circ \Sigma f)$ is the adjoint map to $f$, this composite is precisely the induced homomorphism $\pi_i(\Sigma K(G,n)) \to \pi_i(K(G,n+1))$. Hence this homomorphism is an isomorphism when $i < 2n$.