665 W Wilmot St

$110K

Chillicothe, Peoria County, Illinois

Unique investment opportunity to add to your portfolio!

Asking Price

$110K

Acreage

0.57 acres

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Frequently Asked Questions

How much does 665 W Wilmot St cost?▾

665 W Wilmot St is listed at $110K. Request full financials through Parkvestor for a direct introduction to the listing broker.

How large is 665 W Wilmot St?▾

665 W Wilmot St sits on approximately 0.57 acres in Chillicothe, Illinois.

What type of property is 665 W Wilmot St?▾

665 W Wilmot St is a mobile home park located in Chillicothe, Illinois, currently listed for sale.

Where is 665 W Wilmot St located?▾

665 W Wilmot St is located in Chillicothe, 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

Investment HighlightsProperty Highlights<ul><li> 53 Total Pads</li><li> Mixed Manufactured Housing & RV Community</li><li> Approximately 9 RV Sites with Consistent Occupancy</li><li> 30 Tenant-Owned Homes (TOH)</li><li> 14 Park-Owned Homes (POH)</li><li> City Water & City Sewer</li><li> Metron Sub-Metering Installed for Utility Bill-Back</li><li> Trash Included with MH Lot Rent</li><li> Professionally Managed</li></ul>Rental Information<ul><li> Manufactured Home Lot Rents: $310–$385/month (Trash Included)</li><li> RV Sites: $450/month</li><li> Park-Owned Home Rents: $350–$600/month</li><li>The property’s diverse income mix provides multiple revenue sources while offering investors several opportunities to enhance cash flow through continued POH optimization and strategic rent adjustments.</li></ul>Value-Add Opportunities<ul><li> Increase below-market lot rents over time</li><li> Optimize Park-Owned Home rental income</li><li> Continue maximizing RV occupancy</li><li> Existing sub-metered utility infrastructure provides built-in utility recapture</li><li> Operational efficiencies through professional management</li></ul>Market Overview<ul><li> Population: Approximately 7,000</li><li> Median Household Income: ~$67,600</li><li> Strong Homeownership Rate: ~70%</li><li> Diverse employment base anchored by Fortune 500 companies</li><li> Major regional employers include Marathon Petroleum, Hershey’s, and additional industrial manufacturers</li><li>Located approximately 45 minutes from Indiana, this mobile home park offers investors the stability of a growing Midwest employment center while maintaining affordable housing fundamentals that continue to support manufactured housing demand.</li></ul>Investment Highlights<ul><li> Stable Tenant-Owned Home Community</li><li> Diversified Manufactured Housing & RV Income</li><li> 100% Occupied</li><li> City Utilities with Sub-Metered Utility Recovery</li><li> Multiple Organic Revenue Growth Opportunities</li><li> Strong Employment Base Supported by Major Industry</li><li> Attractive Midwest Investment Market</li></ul><h2></h2>

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%. Home Appreciation in Chenoa is up 16.3%.Renters make up 22.5% of the Chenoa population. 1.4% of houses and apartments in Chenoa, are available to rent.A typical home costs $130,300, which is 61.5% less expensive than the national average of $338,100 and 46.1% less expensive than the average Illinois home, at $241,700. Renting a two-bedroom unit in Chenoa costs $840 per month, which is 41.3% cheaper than the national average of $1,430 and 50.0% cheaper than the state average of $1,260.Chenoa has an unemployment rate of 5.0%. The US average is 6.0%.Chenoa has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 22.9%.The crime rate in Chenoa, IL is significantly lower than the US average. Violent crime rate in Chenoa, IL is 9.8 which is 51% lower than the US average of 22.7, while property crime rate in Chenoa, IL is 12.4 which is 65% lower than the US average of 35.4. This indicates that Chenoa, IL is a secure and safe place to live or visit with low chances of being a victim of violent or property related crimes compared to the US average.Chenoa, IL is located:17 miles north of Bloomington-Normal53 miles east of Peoria, IL65 miles NW of Champaign, IL110 miles SW of Chicago, IL189 miles NE of St. Louis, MOMcLean County is the largest county by land area in the U.S. state of Illinois. According to the 2020 Census, it had a population of 170,954. Its county seat is Bloomington. McLean County is included in the Bloomington–Normal, IL Metropolitan Statistical Area.Bloomington-Normal has a vibrant economy with the anchors being Illinois State University and the corporate headquarters for State Farm Insurance.Here are the largest employers in McLean County:•State Farm Insurance Co. (14,436 employees)•Illinois State University (3,940 employees)•Rivian (3,700 employees)•Country Financial (2,020 employees)•Unit 5 Schools (1,874 employees)•OSF HealthCare (1,286 employees)•Carle BroMenn Healthcare (1,337 employees)•McLean County, Government (817 employees)•Afni, Inc. (815 employees)•District 87 Schools (687 employees)•City of Bloomington (667 employees)•Bridgestone/Firestone Co. (502 employees)•GROWMARK, Inc. (495 employees)•Illinois Wesleyan University (482 employees)•Heritage Operations Group (441 employees)•Town of Normal (401 employees)•Heartland Community College (369 employees)•Tentac Enterprises (348 employees)•IAA/Illinois Farm Bureau (329 employees)•Ferrero USA (300 employees)

89 sites18.61 acres

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.

86 sites17 acres

Rancho Estates

$2.1M

RantoulChampaign County

Financing Opportunity!!!The property is currently encumbered by a Fannie Mae loan that the seller prefers a buyer to assume. The existing loan has an approximate balance of $1,600,000 at a favorable 4.12% interest rate. The loan is interest-only through June 2026, after which it converts to a five-year term amortized over 30 years (locked in at 4.12% until May 2031). Assumption requirements include a minimum of two years of mobile home park ownership or key principal role, a net worth exceeding $1,000,000, and minimum liquidity of $160,000.Rancho Estates is a 52-pad mobile home community located in Rantoul, Illinois within the Champaign–Urbana Metropolitan area. Situated on approximately 4.28 acres and originally developed in 1960, the property benefits from approved mobile home park zoning and is not located within a designated flood zone. The current ownership has operated the community for six years and manages the asset remotely through a district manager, supported by an on-site maintenance technician. The community currently operates without a full-time on-site manager. Pad sizes vary throughout the property, and residents benefit from off-street parking and a well-maintained neighborhood setting.The community is currently operating at strong occupancy levels with 49 of 52 pads occupied. Of the existing homes, 36 are tenant owned homes (TOH) paying an average lot rent of $425 per month. The remaining 10 units are park-owned homes (POH) with average rents of approximately $800 per month, and the seller holds clear title to all park-owned units. Three pads are currently vacant and may have the potential for new home placement subject to city setback requirements. One additional home is scheduled for removal due to poor condition. Approximately three residents are currently behind on rent. All residents operate under monthly lease agreements, and rent is collected electronically through the Rent Manager portal. The most recent rent adjustments were modest $25 increases for both POH and TOH units.Rancho Estates is served by municipal water and sewer, with utility costs back-billed to residents through submetering. Electricity and natural gas are directly metered and billed by the respective providers, and each pad is equipped with a 100-amp electrical pedestal. Residents are responsible for their own garbage service. The material composition of underground utility lines was not provided. The internal road network is asphalt and is reported to be in good condition, with ownership responsible for ongoing maintenance.Operational responsibilities are efficiently structured, with tenants responsible for mowing their individual lots and clearing their own driveways during winter months. Ownership maintains vacant pads and common areas and provides snow removal for the park roads. The property has benefited from consistent operational oversight and strong administrative systems, with institutional-quality financials and documentation available for buyer due diligence.Since acquisition, ownership has made several meaningful improvements to enhance the long-term quality and stability of the community. These include removal of distressed homes, tree trimming, installation of a playground, street repaving, and the addition of water meters. These investments have positioned the property for continued operational stability and future infill potential.Future upside for a new owner includes the potential infill of vacant pads, subject to municipal approval, and continued optimization of rental rates in line with market conditions. Ownership has indicated that continued infill would be their primary operational focus if they retained the asset. One of the minority owners of Marshalltown Estates is a licensed Real Estate Broker in the State of Iowa.<h3>Location:</h3> Rantoul is a village in northern Champaign County, Illinois. The population was 12,371 at the 2020 census. It is part of the Champaign–Urbana metropolitan area.The median home cost in Rantoul is $108,100. Home appreciation the last 10 years has been 46.3%. Home Appreciation in Rantoul is up 14.5%.Renters make up 42.1% of the Rantoul population.The average 1-bedroom rents for $760/month. The average 2-bedroom rents for $900/month. The average 3-bedroom rents for $1,170/month. The average 4-bedroom rents for $1,210/month.Rantoul has an unemployment rate of 5.0%. The US average is 6.0%.Future job growth over the next ten years is predicted to be 30.2%,which is lower than the US average of 33.5%.The Median household income of a Rantoul resident is $44,130 a year. The US average is $69,021 a year.Rantoul violent crime is 38.4. (The US average is 22.7) Rantoul property crime is 40.4. (The US average is 35.4)Here are four of the largest employers in Rantoul, IL (employee counts approximate):•Vista Outdoor — 440 employees •Jeld-Wen Windows & Doors — 425 employees •Flex-N-Gate — 426 employees •Rantoul Foods — 511 employeesChampaign County is a county in the U.S. state of Illinois. As of the 2020 Census, its population was 205,865, making it the 10th-most populous county in Illinois. Its county seat is Urbana. Champaign County is part of the Champaign–Urbana metropolitan area. The twin cities of Urbana and Champaign are the only cities in the county, and they nearly surround the campus of the University of Illinois.Here are ten of the largest employers in Champaign County, IL, with employee counts (approximate):•University of Illinois at Urbana-Champaign — 26,884 •The Carle Foundation — 7,346 •Champaign Unit #4 School District — 1,670 •Kraft Heinz Company — 1,300 •OSF HealthCare — 1,150 •Urbana School District #116 — 950 •Christie Clinic — 915 •FedEx Ground — 887 •Parkland College — 883 •City of Champaign — 636

52 sites4.28 acres

Specialville Estates

$1.7M

ChicagoCook County

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.

37 sites2.88 acres

River Pointe MHC

$1.2M

ChicagoCook County

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.

39 sites1.89 acres