Alpha Park Reagan Drive
Eureka, IL
Asking price
$825,000
Sites
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Cap rate
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Price / site
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About this property
Alpha Park is a 19-site mobile home community located on 1.60 acres in Eureka, IL. The park was developed in the 1950's and has served the community by offering an affordable housing option since that time. The property is zoned MHP. The park is not located in a flood zone. The park has local management and maintenance. The average pad site is 0.08 acres. The pads are predominantly 12 x 60 (see rent roll for full breakdown of pad sizes). There are currently not any trailers that need to be removed from the premises. Of the 15 occupied pads in the park, all are POH's averaging $765/month. Rents are approaching market levels and should be considered a value-add component for the next owner. There are currently no tenants behind in their rent. The park utilizes annual leases that transition into month-to-month. The tenants currently pay their rent by dropping it off at the bank, cashapp, or venmo. The trailers are predominantly 60's models with a few 70's models. Alpha Park is on CITY WATER & CITY SEWER! The underground water pipes are PVC and they were replaced approximately 10-years ago. The sewer lines are six-inch clay tile. The electrical pedestals are believed to be 100 amps. The park is currently paying the water/sewer bill for the tenants (perfect candidate for water meters!). The park is also paying for Garbage removal. The tenants are direct billed by their respective providers for electric and gas. The road in front of the park is owned & maintained by the City of Eureka. The park road is asphalt and is considered to be in extremely good condition. The park mows the entire park. The park utilizes a local contractor for snow removal.
All details
Figures are transcribed from the source listing as published. “Source page last checked” is when our crawler last fetched that page — it is not a check of the financials and not confirmation from the broker.
| Asking price | $825,000 |
|---|---|
| First seen by UnitListed | Sep 6, 2026 |
| Source page last checked | Oct 24, 2026 |
| Source last changed | Oct 11, 2026 |
Before you call the broker
8 things are not disclosed on this listing. These are the questions that would close the gap — specific to a park, not a generic list.
Net operating income — not disclosed
What is the trailing twelve-month NOI, and what does it include and exclude?
The single number a lender will size debt against. Ask what is excluded — management fees and reserves are the usual omissions.
What period the financials cover — not disclosed
Are these figures trailing twelve months, last calendar year, or projected?
A projected stabilised NOI and a current operating NOI can differ by a third, and both get called "NOI".
Gross income and operating expenses — not disclosed
Can you share a trailing twelve-month profit and loss, with the expense lines itemised?
NOI alone hides whether income is high or expenses are being under-reported. The split is what you underwrite.
Reason for sale — not disclosed
Why is the owner selling, and how long have they held it?
Never published on a listing, always worth knowing. Retirement and a looming capital bill are very different situations.
Site count and hookup mix — not disclosed
How many sites are there, and how many are full-hookup, partial or tent?
Full-hookup sites earn a multiple of what a tent site does. The count alone does not tell you the income.
Operating season and seasonal mix — not disclosed
Is this year-round or seasonal, and what is the split between seasonal, monthly and transient guests?
A seasonal park with a five-month window is a different business from a year-round one at the same annual revenue.
Utility infrastructure — not disclosed
Are water, sewer and electric municipal or private, and what condition is the infrastructure in?
A private septic or well at end of life is a capital item that can exceed a year of NOI, and it will not appear in the expenses.
Permits and non-conforming use — not disclosed
Is the current site count permitted, and is any of it legal non-conforming?
A park operating more sites than it is permitted for cannot be financed at the income it shows.
Asking price — disclosed
Currency of the asking price — disclosed
Whether the land is included — disclosed
What has changed
Every date below is when we observed a change, not when it happened. We first saw this listing on Sep 6, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Oct 11, 2026Price reduced$875,000 → $825,000
- Oct 11, 2026Price reduced
- Sep 6, 2026First seen by UnitListed
