The physical properties of the single-crystalline samples of Lu2Ir3Si5 have been investigated by magnetic susceptibility, resistivity, and heat capacity studies. We observed multiple charge-density-wave (CDW) transitions in all the measurements. A strong thermal hysteresis at these transitions suggests a possible first order CDW ordering. In addition, the first order nature is ascertained by a very narrow and a huge cusp (62 J/mol K) in the zero field specific heat data which also suggests strong electron-phonon interchain coupling. © 2015 American Physical Society.