3760 East William Street Road

$545K

Decatur, Macon County, Illinois

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Asking Price

$545K

Acreage

2.75 acres

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How much does 3760 East William Street Road cost?▾

3760 East William Street Road is listed at $545K. Request full financials through Parkvestor for a direct introduction to the listing broker.

How large is 3760 East William Street Road?▾

3760 East William Street Road sits on approximately 2.75 acres in Decatur, Illinois.

What type of property is 3760 East William Street Road?▾

3760 East William Street Road is a mobile home park located in Decatur, Illinois, currently listed for sale.

Where is 3760 East William Street Road located?▾

3760 East William Street Road is located in Decatur, Illinois. Browse more RV parks for sale in Illinois on Parkvestor.

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More Mobile Home Parks for Sale in Illinois

Southwind Estates MHP

$2.7M

Robinson

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68 sites16.71 acres

All Seasons & Autumn Oaks

$2.5M

ChenoaMcLean County

All Seasons & Autumn Oaks are a pair of immaculate mobile home parks located adjacent to one another (separately licensed) on 18.61 acres in Chenoa, IL (89-pads currently and already zoned for an additional 100-pad expansion should you also purchase the adjacent additional acreage that is not currently included with the park). Autumn Oaks is a 55+ community, and All Seasons is an all age community. The parks were established in the 1990's. These parks are actually owned by a church, so profit has not been the primary focus during the time that they have owned these properties. In fact, the pad rental rates are at least 20% under market rate (35% lower than some in nearby Bloomington-Normal)! The parks are zoned as a combination of 0060 (improved commercial) & farmland. All of the tenants pay their rent at the local bank. The parks have an on-site manager. The parks also have a maintenance man.The pads at All Seasons & Autumn Oaks are designed to accommodate double-wide's. There are presently ZERO homes that need to be removed from the property as they are all in solid condition. Currently 98% of the homes in the park are TOH's. There is currently just one park owned home that rents for $600/month (which is not being included in the sale of the property). There are presently 47 TOH's on the property. The average pad rental rate is only $390/month. There are no vacant trailers and no trailers being held for back taxes. The parks utilizes annual leases. None of the tenants are behind in rent! The tenants currently pay their rent at Heartland Bank (just a few blocks away). The zoning was changed in 2014 to allow 50% of the park to be single wide trailers!In addition to the 47-pads that are presently occupied, another 21-sites have concrete pads. The remaining 13-sites are just vacant lots. Some of the pads will need to be connected to the water/sewer at the street.CITY WATER & CITY SEWER!!! The waterlines are primarily PVC and copper and have been updated. The previous owner put over $1,000,000 into underground infrastructure in 2008. The electrical pedestals are 200 amp to each pad. Residents are billed directly for their electricity, gas, & water by their respective providers (garbage included in water bill). The roads are considered to be in solid shape are asphalt. The park maintains the roads (paved the top layer a couple of years ago for $100,000). The tenants are required to mow their own space and the park takes care of the common areas. The park moves snow as needed.<h3>Location:</h3>Chenoa is a city in McLean County, Illinois, United States. The population was 1,695 at the 2020 census. The city is located at the intersections of Interstate 55, Historic Route 66, and U.S. Route 24.The median home cost in Chenoa is $130,300. Home appreciation the last 10 years has been 40.7%. 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Autumn Ridge Estates

$2.4M

HenryMarshall County

TO VIEW FINANCIALS, CLICK **VIEW OM” OR “SEE DUE DILIGENCE”, SIGN THE CONFIDENTIALITY AGREEMENT, AND YOU WILL HAVE IMMEDIATE ACCESS”. CONTACT LOGAN WHITE WITH ANY QUESTIONS LOGAN@MHPVALUE.COMThe MHP Value Team is pleased to present Autumn Ridge Estates & Storage, adiversified manufactured housing and storage community located just outside Henry,Illinois within the Peoria Metropolitan Statistical Area. The property offers a healthymix of manufactured housing, apartments, and self-storage income streams within astabilized community that provides both immediate cash flow and clear long-termupside.The property consists of 16 tenant-owned home sites, 16 park-owned homes, 2 rent-to-own homes, 2 apartment units, and 28 newly constructed self-storage units, alongwith 22 vacant manufactured housing pads that are already serviced with utilities andready for infill. Currently generating approximately $316,361 in annual top-lineincome, the community benefits from diversified revenue streams and consistentdemand for affordable housing in the surrounding market.Recent improvements include the installation of new park-owned homes and thedevelopment of 28 brand-new storage units, creating a stabilized operating basewhile preserving significant value-add potential. A clear investment strategy existsthrough the gradual infill of the remaining vacant manufactured housing pads, whichalready have utilities in place. Under conservative underwriting assumptions of fivehome infills per year coupled with gradual rent increases of approximately 5%annually, projections indicate the potential to achieve average IRRs reaching 24-26%during years 4–6 of the investment period, driven primarily by organic occupancygrowth and steady rent appreciation.Autumn Ridge Estates & Storage offers stabilized income supported by a healthy unitmix, with a clear path to above-average returns through the infill of vacant sites andgradual rent increases.Important Note to Prospective Buyers from Pace Morby: Congrats to all new members of the Pace Morby “Creative Finance” and “Subto” communities. We appreciate your interest and enthusiasm. Please note that we work exclusively with qualified, verified buyers. Our clients are not seeking first-time purchasers attempting to acquire mobile home parks with no capital investment. We will also not share proprietary Seller information with any intermediaries, including, but not limited to, scouts, “bird dogs,” or third parties.

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$2.1M

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$1.7M

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The MHP Value Team is pleased to offer for sale Specialville Estates, a 37-site mobile home community located in Dixmoor, Illinois, just 30 minutes south of downtown Chicago. Positioned within one of the Midwest's largest employment markets, the property benefits from strong demand for affordable housing.The community consists of 23 tenant-owned homes averaging $711/month in lot rent, 3 rent-to-own homes averaging $1,234/month in total rent, one vacant park-owned home, and 10 vacant lots with existing infrastructure. The property is currently 70.27% occupied and operates on city water, sewer,and trash, all of which are billed back to tenants.The investment strategy focuses on gradually increasing rents, leasing the vacant park-owned home, and infilling the 10 vacant lots to drive occupancy and revenue growth.At the current pricing, Specialville Estates offers an attractive opportunity for both new and experienced operators seeking immediate cash flow with meaningful upside. The property is projected to achieve a double-digit Year 1 cash-on-cash return and a five-year IRR exceeding 50% through gradual rent increases and infill.

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$1.2M

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The MHP Value Team is pleased to offer for sale River Point MHC, a 39- unit MHP located in Burnham, Illinois, just 30 minutes south of downtown Chicago. Positioned within one of the Midwest's largest employment markets, the property benefits from strong demand for affordable workforce housing.The community consists of 25 tenant-owned homes averaging $515/month, six vacant park-owned homes ready for rehabilitation or replacement, two occupied apartments averaging $1,099/month, two vacant apartments currently in the eviction process, four vacant lots with existing infrastructure, and an on-site laundry facility. Ownership has faced significant time constraints, resulting in elevated delinquency, collection issues, and vacancy.The investment strategy focuses on implementing professional management, improving collections, filling vacancies, increasing utility bill-backs, transitioning electric service to direct billing, and bringing rents toward market levels.At the current pricing, the property underwrites to a 1.25x DSCR while the investment strategy projects a 41.83% five-year IRR through improved operations and occupancy. River Point presents an exceptional operational value-add opportunity with a clear path to creating significant value.

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