Lormax Stern Development Company is pleased to announce the successful sale of Orland Ridge, a 294-unit build-to-rent residential community in Orland Park, Illinois, for $102 million. The property was acquired by RPM Living in what ranks among the largest suburban rental housing transactions in the Chicago market in 2026.
The sale underscores the continued strength of the build-to-rent sector and growing investor demand for high-quality residential communities in supply-constrained suburban markets. Orland Ridge was developed to meet the increasing demand for modern rental housing options while offering residents the space, amenities, and lifestyle benefits typically associated with homeownership.
“This transaction reflects the value and long-term appeal of thoughtfully developed build-to-rent communities,” said a representative of Lormax Stern. “As suburban housing demand continues to grow, institutional investors remain highly attracted to well-located, professionally managed assets like Orland Ridge.”
Lormax Stern extends its appreciation to its development partner, S.R. Jacobson Development Corp., whose collaboration and expertise were instrumental in bringing the project to completion and achieving a successful outcome.
The sale of Orland Ridge represents another milestone in Lormax Stern’s commitment to identifying, developing, and delivering high-quality real estate projects that create lasting value for residents, partners, and investors alike.