Contact Information

Jon Fisher
License: 471.020503 (IL) 18000549 (IN) 117228 (SC)

MR LANDMAN LLC

CONTACT BROKER

Price: $1,000,000
Purchase Method: Cash, New Loan
Listing ID: 5730813
Posted On: May 16, 2024
Updated On: May 23, 2024

Description

Atkinson Estates MHC is a 24-pad mobile home community located on 5.65 acres on the outskirts of Atkinson, IL. The park was developed in the 1960's and has served the community by offering an affordable housing option since that time. The property is zoned 0030 (vacant residential lots) and 0060 (improved commercial). The park is not located in a flood zone. The park is presently managed by a resident manager who the owners believe will have interest continuing in that role going forward. The park also has a maintenance man.

The pad size varies, but the majority are single section pads (19) that will accommodate 14 x 80 trailers. There are also multi-section pads in the park (05). There are currently not any trailers that need to be removed from the premises. Of the 22 occupied pads in the park, four of the trailers are RTO's averaging $700/month. One is a POH at $570/month. The other 17-pads in the park are occupied by TOH's which are paying $375/month. Rent was just raised in April of 2024. There are currently zero tenants behind in their rent. The park utilizes leases for its residents. The tenants currently pay their rent via check, bank deposit, Cashapp, Venmo, & Zelle.

PUBLIC WATER & SEWER! Atkinson Estates is on city water & city sewer! The underground pipe material is believed to be PVC. The electrical pedestals are believed to be 100 amps. Residents are direct billed for water, electricity, & gas by the utility providers. Garbage is built into the lot and home rent. The park has two roads that are asphalt and are considered to be in good condition. The tenants mow their own pads and the park mows the common areas. The park handyman pushes snow as needed.

The owner has made some park improvements since taking over the park. They upgraded the roads, added some park owned homes, and did some plumbing improvement projects.

When asked what items they would focus on improving if they were to continue to own/operate the park going forward they responded with:

Add a trailer on the front lot and rent it for $800/monthly.

Location

Atkinson is an incorporated town in Henry County, Illinois. The population was 965 at the 2020 census.

Atkinson is located:

16 miles from Kewanee, IL
31 miles from Moline, IL
33 miles from Bettendorf, IA
36 miles from Davenport, IA
38 miles from Rock Island, IL
68 miles from Peoria, IL
144 miles from Chicago, IL

The median home cost in Atkinson is $141,500. Home appreciation the last 10 years has been 34.4%. Home Appreciation in Atkinson is up 8.3%.

Renters make up 11.5% of the Atkinson population.

Atkinson has an unemployment rate of 5.9%. The US average is 6.0%

The Median household income of a Atkinson resident is $49,640 a year. The US average is $69,021 a year.

Atkinson property crime is 20.1. (The US average is 35.4).

Henry County is a county located in the U.S. state of Illinois. The 2010 United States Census, listed its population at 50,486. Its county seat is Cambridge. Henry County is included in the Davenport-Moline-Rock Island, IA-IL Metropolitan Statistical Area. Located in Henry County in Northwest Illinois is Kewanee, known as the Hog Capital of the World. A gigantic celebration is held every Labor Day weekend where 50 thousand pork chops are grilled and
sold to the public.

The Quad Cities is a region of cities (originally four, see History) in the U.S. states of Iowa and Illinois: Davenport and Bettendorf in southeastern Iowa, and Rock Island, Moline and East Moline in northwestern Illinois. These cities are the center of the Quad Cities metropolitan area, which as of 2013 had a population estimate of 383,781 and a Combined Statistical Area (CSA) population of 474,937, making it the 90th-largest CSA in the nation.

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