All Seasons & Autumn Oaks MHP
Chenoa, IL
Asking price
$2,500,000
Sites
—
Cap rate
7.60%
Price / site
—
About this property
Description •City Water & City Sewer! •Great tenants with zero behind in rent! •Rents are below market value! •Property is in immaculate condition! 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.
All details
| Asking price | $2,500,000 |
|---|---|
| Cap rate | 7.60% |
| Year built | 1990 |
| Address | 104 Enterprise Drive |
| First seen | Sep 6, 2026 |
| Last verified | Sep 7, 2026 |
