We review the observation of novel charge density wave (CDW) transitions in ternary R₅Ir₄Si₁₀ compounds. A high quality single crystal of Lu₅Ir₄Si₁₀ shows the formation of a commensurate CDW along c-axis below 80 K in the (h, 0, l) plane that coexists with BCS type superconductivity below 3.9 K. However, in a single crystal of Er₅Ir₄Si₁₀, one observes the development of a 1D-incommensurate CDW at 155 K, which then locks into a purely commensurate state below 55 K. The well-localized Er³ moments are antiferromagnetically ordered below 2.8 K which results in the coexistence of strongly coupled CDW with local moment antiferromagnetism in Er₅Ir₄Si₁₀. Unlike conventional CDW systems, extremely sharp transition (width ∼ 1.5 K) in all bulk properties along with huge heat capacity anomalies in these compounds makes this CDW transition an interesting one.