Orland Ridge Towns and Villas_Property for Sale

9414 Trillium Lane, Orland Park, IL, 60487, US

Orland Ridge Towns and Villas

Asset Description

Jones Lang LaSalle Americas (Illinois), L.P. (JLL), is pleased to present Orland Ridge Townhomes & Villas (“Orland Ridge”), a brand new, luxury SFR 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 Grasslands 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.

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Attributes

Number of units

294 units

Occupancy

94.00%

Year built

2023

Building area Gross

1,465 sf

Media

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

100% of delivered homes are 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