Jason Berkowitz Of RPM Living Acquires 294-Unit Orland Ridge Community In Orland Hills For $102M

The property involved in this transaction is a multifamily asset located at 16966 Pond Willow Drive in Orland Hills. It comprises 294 units and was acquired for $102,000,000, resulting in a price per unit of $346,939. The community, known as Orland Ridge, was completed in 2023 and is nearing stabilization, reflecting the current market dynamics in suburban rental housing.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $102,000,000
• Units: 294
• Price Per Unit: $346,939
• Buyer: Jason Berkowitz
• Company: RPM Living
• Market: Orland Hills

This transaction marks one of the largest Midwest build-to-rent single-asset trades. The strong investor demand for suburban rental housing is indicative of continued rent growth expectations in the Chicago metro area.