Investing in Mobile Home Parks in Illinois: Opportunities, Insights, and Top Listings
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Illinois is steadily emerging as a promising destination for mobile home park investments. With its diverse economic hubs, favorable market conditions, and availability of value-add properties, the state offers lucrative opportunities for both new and seasoned investors. From urban centers like Rockford and Carbondale to smaller communities like Mount Carmel and Dixon, Illinois presents a range of mobile home parks with attractive cap rates, stable occupancy, and growth potential.
This guide offers a comprehensive overview of current investment-ready mobile home parks in Illinois, focusing on key financial metrics, tenant demographics, and infrastructure quality.
1. Two-Park Portfolio in Dixon and Rock Falls, IL
Price: $3,300,000
Cap Rate: 8.01% (Actual)
Lots: 175
Occupancy: 68.2%
Lot Rent: $320/month
Gross Income: $498,312
Net Operating Income: $267,694
Location: Sterling-Dixon MSA
This dual-park portfolio combines scale, centralized management, and upside potential. With 117 tenant-owned homes and 45 vacant lots, the investment offers a clear value-add opportunity through rent increases and occupancy improvements. Located along the busy I-88 corridor, both Dixon and Rock Falls are supported by major employers such as KSB Hospital and Wahl Clipper Corporation. Infrastructure includes public and well water, sewer systems, and average-condition paved roads. The blend of lot and park-owned home income makes this an ideal opportunity for those looking to optimize cash flow, with an estimated cash-on-cash return over 26% at full stabilization.
2. Hillside Mobile Home Village – Mount Carmel, IL
Price: $550,000
Cap Rate: 14.6% (Actual)
Lots: 25
Occupancy: 92%
Lot Rent: $160–$170/month
Gross Income: $106,800
Net Operating Income: $80,312
Location: Mount Carmel, Wabash County
Located in a tenant-friendly, non-zoned market, this well-maintained park offers a mix of 12 park-owned and 11 tenant-owned homes. With recent infrastructure upgrades including water line replacements and tree maintenance, it requires minimal deferred maintenance. All utilities are individually metered and direct billed, reducing operating costs. The city boasts a low cost of living, with median home prices under $80,000 and a growing rental market. With rents currently below market average and no delinquencies, Hillside presents a strong cash-flowing opportunity with room for income growth.
3. 22-Space Mobile Home Community – Charleston, IL
Price: Contact for Details
Cap Rate: 9.0%
Lots: 22
Occupancy: 68.2%
Location: Charleston, IL
Situated in a college town home to Eastern Illinois University, this park benefits from steady housing demand. Public utilities, a mix of single and double-wide homes, and proximity to employers like Walmart and Sarah Bush Lincoln Health Center enhance its appeal. With vacant lots available for infill, the park offers immediate upside potential.
4. Cornerstone Mobile Home Park – Carbondale, IL
Price: $3,950,000
Cap Rate: 14.2% (Pro Forma)
Lots: 400
Lot Rent: $195/month
Gross Income: $1,251,329
Net Operating Income: $749,213
Location: Carbondale, IL
With 400 spaces, this is one of the largest mobile home parks on the Illinois market. A balanced mix of tenant and park-owned homes, along with numerous vacant lots, creates substantial growth potential. Current ownership has implemented a strategy to rehab and rent vacant homes and infill lots. All utilities are city-serviced and tenant-paid via submetering. This is a rare opportunity for investors seeking scale, income, and long-term expansion options in a university town.
5. 29-Space Community – Rockford Metropolitan Area, IL
Price: $1,285,000
Cap Rate: 10.0% (Actual)
Lots: 29
Occupancy: 83%
Lot Rent: $370/month
Gross Income: $177,427
Net Operating Income: $128,641
Location: Rockford MSA
This 4-acre property is ideally located within the growing Rockford area, close to parks, businesses, and new developments like the HardRock Casino. With 9 park-owned homes renting at an average of $940/month and low expense ratios, the park is well-managed and primed for continued success. Water is well-sourced and sewer is septic, with both services submetered to tenants.
Why Invest in Illinois Mobile Home Parks?
1. Strong Returns: Cap rates across Illinois parks are often higher than the national average, ranging from 8 to over 14 percent, with additional upside from rent increases and infill opportunities.
2. Affordable Entry Points: Many parks are priced below $1.5 million, offering a low barrier to entry for new investors.
3. Diverse Markets: From university towns and industrial hubs to quiet rural communities, Illinois offers various tenant demographics and rental demand profiles.
4. Favorable Infrastructure: Most parks operate with public utilities, tenant-billed water, and updated systems, reducing maintenance and increasing profitability.
5. Growing Demand: As housing affordability declines across the U.S., manufactured housing continues to rise in popularity, making mobile home parks a resilient, recession-resistant asset class.
Final Thoughts
Illinois mobile home park investments offer a compelling combination of affordability, income potential, and long-term appreciation. Whether you are seeking stable cash flow, value-add opportunities, or large-scale developments, the state provides a range of properties to match your investment strategy.
Explore the latest listings at MobileHomeParkStore.com and take the next step toward owning an income-generating property in one of the Midwest’s most diverse and dynamic markets.
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