Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Property ID: 1041875
  • Posted On: Mar 12, 2019
  • Updated On: Feb 25, 2020

Property Description

Edgewood Mobile Home Park is a 39-pad community located on four acres in Clinton, IL. The park is on city water and city sewer. Each pad has its own meters for electric, water, & gas; and all of the utilities are direct billed to the tenants. The underground pipe materials are copper & clay. The road thru the park is oil & chip asphalt and is in relatively good shape (a couple of potholes popped up over the winter but will be filled in). The park is zoned commercial 0060 and is compliant with any state & county restrictions. The park is licensed with the Illinois Department of Health and is in good standing.

The park is a mixture of POH’s (park owned homes) and TOH’s (tenant owned homes). At the present time the park has 18 POH’s that are currently rented. The POH’s in Edgewood rent between $300-500/month. In addition to the 18 POH’s that are currently rented, the park has two more POH’s that could be renovated and brought back online. Edgewood Park also has 5 TOH’s at the present time, and they are currently paying $175/month in pad rental. As of the present time, all tenants are caught up on paying their rent. There are currently no trailers that need to be removed from the park.

The park also has a laundry mat that is empty. The owner recommends that this unit be turned into an apartment as it already has water, electric, & gas to it. It is currently being used by the owner for miscellaneous storage.

The owner has done a nice job of keeping the park owned homes looking good. Driving thru the park you will notice that even the exteriors of the older trailers look quite good. The owner currently has a maintenance man that helps him with various projects around the park including trailer cleaning/rehabs between renters. This individual would like to continue working as the park maintenance man going forward and comes highly recommended by the present owner.

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Park Information

Community Type: All Age
Number of MH Lots: 39
Total Occupancy: 60.0 %
Year Built: 1960
Average MH Lot Rent: $175
Size: 4 acre(s)

Lot Information

Singlewide Lots: 39

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 20
Average Rent for Park-owned Homes: $400

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