ASSET OVERVIEW
Jones Lang LaSalle Americas (Illinois), L.P. (JLL), is pleased to present Orland Ridge Townhomes & Villas (“Orland Ridge”), a brand new, luxury BTR community located in dynamic and ever-evolving Orland Park, a southwest suburb of Chicago. Orland Ridge offers a variety of in-demand layouts across buildings from spacious one, two, and three-bedroom homes—all with private entries and attached private garage parking. This community offers above-and-beyond single-family living including flawless finishes, spacious floorplans with ample storage, and a resort-style collection of amenities including a clubhouse.
Orland Ridge is ideally located along South La Grange Rd (US Hwy 45), the main thoroughfare for Orland Park, with to immediate access to restaurants, entertainment, offices, grocery retailers, medical facilities and the 960-acre Orland Grassland Preserve. The Village is home to 3,000+ businesses and provides residents easy access to the I-55 and I-80 job corridors. Government backed corporate investment and expansion has positioned Orland Park as a top destination for movers.
Orland Ridge boasts strong tenant demand, experiencing rapid lease up of homes as they are delivered. Gross Potential Rent has increased by $3MM (26%) since initial leasing began.
INVESTMENT HIGHLIGHTS
Distinguished Single-Family-Home Rental Community
- Single-family rental community with spacious 1,455+ average SF floor plans
- Full spectrum unit mix and price point range
- Private entry, patio, balcony, and attached garage parking
- Luxury resort-style amenities highlighted by a heated outdoor pool, state-of-the-art fitness center, pickleball/volleyball courts, and an exclusive clubhouse lounge
- Scarce one-of-a-kind asset - no other SFR communities within a 10-mile radius
Fantastic Property Performance
- Effective rents on recent leases signed achieving $2.20, a 19%+ increase over in-place rents
- 100% of Delivered Homes are fully leased
- Impressive rent increases (26% rent growth since leasing began)
- 7% Resident Rent-to-Income Ratio implies room to grow rents
Path-of-Growth Location
- Immediate access to I-80 industrial corridor featuring new hubs for Amazon, Wayfair, and WeatherTechHQ
- Neighbors all-stop shops, Costco, Whole Foods, Trader Joes, Target, and new fast-casual eateries
- Steps from the Orland Grasslands - a 960-acre reserve with walking/bike paths comprised of open prairie, wetlands, oak savannas, and woodlands
- Employment growth in the region has outperformed state and national averages since 2010
Stellar Submarket Performance
- 96% Projected 5-Year Avg. submarket occupancy
- No Built-to-Rent Townhome / Villa Product in Southwest Cook County
- Southwest Cook County rent growth projected to outpace broader Chicago MSA
- Known as "The Jewel of The South." Orland Park is a go-to community for those moving out of the city into the suburbs.
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INVESTMENT ADVISORY
FINANCING
Although information has been obtained from sources deemed reliable, JLL does not make any guarantees, warranties or representations, express or implied, as to the completeness or accuracy as to the information contained herein. Any projections, opinions, assumptions or estimates used are for example only. There may be differences between projected and actual results, and those differences may be material. JLL does not accept any liability for any loss or damage suffered by any party resulting from reliance on this information. If the recipient of this information has signed a confidentiality agreement with JLL regarding this matter, this information is subject to the terms of that agreement. ©2023. Jones Lang LaSalle IP, Inc. All rights reserved.
