Contact Information

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

Mobile Home Park Details

  • Price: $370,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 8.9%
  • Listing ID: 3786827
  • Posted On: Oct 4, 2023
  • Updated On: Jan 9, 2024


***Price reduced on January 9th, 2024***

•City Water & City Sewer!
•Excellent Starter Park!
•Steady occupancy levels!
•Metro of 400,000 +

Davis MHP is a 14-pad mobile home community located on 1.02 acres in Chillicothe, IL. The park was developed over 50 years ago and has served the community by offering an affordable housing option since that time. The property is R-1 and is not believed to be conforming. The park is not in a flood zone according to the seller. The park is presently self managed by an out of area owner. The owner believes that several tenants might make good onsite management candidates depending upon the scope of responsibilities required. The park utilizes various vendors for handyman services. The park utilizes annual leases. None of the tenants are currently behind in rent. The tenants pay rent at the local bank.

The pads should all be able to accommodate 16 x 68 trailers. The pads are a mixture of concrete, runners, and grass. Of the 14-pads in the park, eight are occupied. One is a RTO at $617/month. Seven of the trailers are POH's averaging $510/month. There are currently two vacant trailers. One pad is used for storage and one pad has an abandoned trailer (both should probably be removed from the park). Four pads are vacant. Of the vacant pads all will need some concrete work performed, one is ready utility wise, three have water, sewer, & gas but will need electric ran from the pole to the pads. The park has the titles to all of the POH's.

CITY WATER & CITY SEWER!!! The underground pipe material is believed to be a combination of plastic, galvanized, & some copper. The sewer pipes are green plastic. The electrical pedestals are 100 amp. Tenants pay for their water (back-billed), while the electricity, & gas is direct billed from the providers. The park pays for garbage. The park is located on a state highway. The road in the park was redone in 2021 and the owner considers it to be in "very good" condition. The tenants are responsible for mowing their own pads. The park mows the common portions of the park and a few tenants pay monthly for their yards to be mowed. The park moves snow as needed with a local vendor.

Since the current ownership group purchased the park, they have made a number of improvements to the property:

1. Installed Metron meters
2. Installed a new electric pole
3. Renovated all park owned homes
4. Installed a new concrete pad
5. Moved a trailer into the park

When asked what they would do to improve the park if they continued to own it going forward:

1. Continue to infill the park with used trailers


Chillicothe is a city on the Illinois River in Peoria County, Illinois. The population was 6,097 at the 2010 census. Chillicothe is just north of the city of Peoria and is part of the Peoria Metropolitan Statistical Area.

Chillicothe is located:

18 miles NE of Peoria, IL
55 miles from Bloomington, IL
98 miles SE of Davenport, IA (Quad Cities)
141 miles SW of Chicago, IL
186 miles NE of St. Louis, MO

Peoria County is located in the U.S. state of Illinois. The 2020 United States Census listed its population at 181,830. Its county seat is Peoria. Peoria County is part of the Peoria, IL Metropolitan Statistical Area.

The unemployment rate in Peoria Metro Area is 6.9% (U.S. avg. is 6.0%). Recent job growth is Positive. Peoria Metro Area jobs have increased by 1.4%.

Compared to the rest of the country, Peoria Metro Area's cost of living is 21.9% lower than the U.S. average.

Peoria Metro Area's population is 404,226 people. Since 2020, it has had a population growth of 0.3%.

The median home cost in Peoria Metro Area is $139,400. Home appreciation the last 10 years has been 11.4%.

The Peoria-area employment picture has changed in the last half decade, with corporate relocations and, most recently, the COVID 19 pandemic all shaking up the workforce.

Here are the ten largest employers in the Peoria, IL Metro:

•OSF Healthcare (13,500 employees)
•Caterpillar (12,000 employees)
•Unity Point Health (5,000 employees)
•Peoria Public Schools (2,668 employees)
•Illinois Central College (1,800 employees)
•Bradley University (1,300 employees)
•Advance Technology Services (1,073 employees)
•SC2 Services (1,030 employees)
•Liberty Steel & Wire (900 employees)
•City of Peoria (888 employees)

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 14
Total Occupancy: 57.0 %
Year Built: 1970
Average MH Lot Rent: $425
Size: 1 acre(s)

Financial Information

Net Operating Income: $34,863

Lot Information

Singlewide Lots: 14

RV Information

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

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 7
Average Rent for Park-owned Homes: $510

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