Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Property ID: 1124734
  • Posted On: Aug 22, 2019
  • Updated On: Dec 12, 2019

Property Description

PERFECT investment opportunity for new or smaller investors!!! This clean little “mom & pop” park sits on (1.38 acres) in beautiful Monticello, IL. This is a 17 pad unit that is currently at 77% capacity and has good cash flow…and some upside to it as well. All of the trailers in the park are owned by the tenants. The park sits in the southwest corner of Monticello just blocks away from the high school & athletic facilities. The owner of the park lives locally so he has been managing the park himself. The park is serviced by city water & sewer, the underground pipes have been replaced recently, and the roads are in good condition. The owner has owned the park for nearly 25 years and would like to find a new owner who will take care of his long-term tenants that he has grown fond of.

There is also a 40 x 60 concrete block “warehouse” that sits on the property. This could be rented out for storage or torn down to accommodate 2 or 3 additional trailers. The warehouse does have three phase electrical service.

Monticello is located centrally between Champaign and Decatur. It is nearly equidistant from the larger metropolitan areas of Chicago, Indianapolis, & St. Louis. Proximity to major airports within 2 hours should make this park attractive to out of state investors.

In the 1920’s Monticello was one of the top 10 wealthiest communities in the country and to this day has avoided the decline that many small towns in America have faced. It has a vibrant downtown district with unique art galleries, restaurants & bars, shopping, antiques, etc. Monticello has an outstanding school district.
As of the census of 2000, there were 5,138 people, 2,146 households, and 1,446 families residing in the city. The population density was 1,724.7 people per square mile (665.7/km²). There were 2,226 housing units at an average density of 747.2 per square mile (288.4/km²). The racial makeup of the city was 99.01% Caucasian, .80 Hispanic or Latino, 0.08%, African American, 0.14% Native American, 0.14% Asian, 0.02% Pacific Islander, 0.08% from other races, and 0.54% from two or more races.
There were 2,146 households out of which 29.2% had children under the age of 18 living with them, 58.4% were married couples living together, 6.8% had a female householder with no husband present, and 32.6% were non-families. 29.7% of all households were made up of individuals and 16.6% had someone living alone who was 65 years of age or older. The average household size was 2.34 and the average family size was 2.91. In the city, the population was spread out with 23.4% under the age of 18, 6.1% from 18 to 24, 26.4% from 25 to 44, 24.3% from 45 to 64, and 19.9% who were 65 years of age or older. The median age was 42 years. For every 100 females, there were 88.9 males. For every 100 females age 18 and over, there were 83.2 males.
The median income for a household in the city was $78,916 in 2016. The per capita income for the city was $37,154. Estimated median house or condo value was $169,106 in 2016. Median gross rent in 2016 was $937.

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Park Information

Community Type: All Age
Number of MH Lots: 17
Total Occupancy: 77.0 %
Year Built: 1960
Average MH Lot Rent: $240
Size: 1 acre(s)

Lot Information

Singlewide Lots: 17
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 0
Average Rent for Park-owned Homes: $0

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