Mobile Home Park Details

Purchase Method: Cash, New Loan
Listing ID: 3971273
Posted On: Nov 10, 2023
Updated On: Feb 16, 2024

Description

Westfield Mobile Home Park is a smaller 13-pad affordable home community located on 2.60 acres on the outskirts of Westfield, IL (Charleston–Mattoon Micropolitan Statistical Area.) The park was
developed in 1978. The property is zoned 0040 (improved lots) and the park is presently in compliance. The park is not located in a flood zone. The park has a potential manager/greeter on site.

The pads will accommodate 70' foot trailers. A couple of pads will accommodate 80' foot trailers. There are no vacant trailers that
need to be removed. Of the 13-pads in the park, four are occupied. Three are TOH's averaging $300/month. One is a RTO averaging $450/month. There is a 20' x 24' shed on the property that the owner uses to store equipment and skirting. There are currently nine vacant pads. The rent for the TOH's has not been raised since 2020. The park utilizes utilizes month/month (TOH) leases, as well as one RTO annual lease. Currently none of the tenants are behind in rent. Tenants pay rent by mailing a money order to the owner.

Westfield Mobile Home Park is on city water. The park is currently using a septic system but that is expected to be phased out within the next couple of years. The city has received a $5 million dollar grant to put in a public treatment system. The underground pipe material consists of a combination of black plastic for the water, and schedule 40 PVC for the septic. The electrical pedestals are 100 amps. The park has water, electric meters & gas meters to each pad and they are all billed directly from the provider. The roads through the park are a combination of asphalt & gravel and the road is maintained by the city. The tenants are responsible for mowing their own space. The park mows the empty pads and common spaces. The city takes care of snow removal (as needed).

The current owner of Westfield Mobile Home Park has owned the property for three years. During that time they have cleaned up the park by removing nine trailers. They have also added some light poles (Ameren has not been charging them for electricity). If they were to maintain ownership of the parks they would focus on these improvements:

•Work with the city to phase out the septic system and get public sewer
•Continue to infill the park

Location

Westfield is a village in Westfield Township, Clark County, Illinois. The population was 536 at the 2020 census, down from 601 at the 2010 census. Westfield is part of the Charleston-Mattoon Micropolitan Statistical Area.

Compared to the rest of the country, Westfield's cost of living is 26.8% lower than the U.S. average.

Average Commute time is 25.1 minutes. The National Average is 26.4 minutes.

Home appreciation the last 10 years has been 7.9%

Westfield public schools spend $10,074 per student. The average school expenditure in the U.S. is $12,383. There are about 17.5 students per teacher in Westfield.

Clark County is a county located in the southeastern part of U.S. state of Illinois, along the Indiana state line. As of the 2020 census, the population was 15,455. Its county seat is Marshall. The county was named for George Rogers Clark, an officer who served in the American Revolution.

Here are the largest employers in the Charleston-Mattoon
Micropolitan Statistical Area:

•Sarah Bush Lincoln Health Center (2447 employees) Hospital/Medical Campus
•Eastern Illinois University (1250 employees) State University
•Lake Land College (400 FT, 571 PT employees) Community College
•Rural King (600 employees) Warehouse/Distribution/Corporate/Retail
•Mattoon School District (432 employees) K-12 School System •Charleston School District (300 employees) K-12 School System •Consolidated Communications (292 employees) Telecommunications
•First Mid Bank & Trust (270 employees) Banking and Wealth Management
•Blue Cross Blue Shield (225 employees) Regional Call Center/Service Center
•Spherion (221 employees) Call Center/Service Center
•Coles County (180 employees) County Government
•Mars Petcare (140 employees) Pet Food Production

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