Harvest Estates MHC
Manteno, IL
Asking price
$1,000,000
Sites
31
Cap rate
11.30%
Price / site
$32,258
About this property
Harvest Estates MHC is a 31-site mobile home community located on 3.18 acres on the outskirts of Manteno, IL. The park was developed in the mid 1970's and has served the community by offering an affordable housing option since that time. The property is zoned 0060 (improved commercial). The park is not located in a flood zone. The park is presently managed by a resident manager who the owners believe will have interest continuing in that role going forward. The park also has a local contractor who handles maintenance or sub-contracts as needed. The owner of Harvest Estates does not have the exact dimensions of the pads, but they will include the park survey in supporting materials. There are currently not any trailers that need to be removed from the premises. Of the 29 occupied pads in the park, 28 are TOH's averaging $530/month. There is a vacant POH that is being renovated and will be ready to rent/sell prior to closing. There is also a SFR on the property that is currently renting for $875/month. Currently just one vacant pad in the park. Rent was last raised on April 1st, 2025. The park utilizes leases for its residents with the vast majority being month-to-month. The tenants currently pay their rent via check, CashPay (Zego) & Zelle. The current owners do not accept cash. Harvest Estates is on private well & septic. The underground pipe material is PVC Schedule 40. The electrical pedestals are believed to be 100 amps. The park provides the water & septic in the rent. The park is also paying for Garbage removal. The tenants are direct billed by their respective providers for electric (ComEd) and gas (Nicor). The park road is asphalt and are considered to be in good condition. The park currently mows the entire park. The park contracts out snow removal as needed. The owners have recently purchased Metron water meters and are in the process of installing them. These meters should be completed prior to closing. The owner has made some park improvements since taking over the park: •Significant improvements to the well and septic systems, including new pressure tanks and replacement of section of the sewer lines. •Rehab and sale of POH's. There were additional POH's when the current owners purchased the park. Current owner rehabbed them to improve the overall park, unit, and tenant quality and sold them to convert them to lot rent only units. •Road improvement/repairs. •Source Water Protection Plan ~ This is a requirement of all well operators in Illinois by the State EPA. It is a one-time requirement that they paid to have completed in 2024. When asked what improvements they would continue to make if they continued to operate the park going forward: •Lot rents can be pushed up significantly ~ we believe lot rents in the market are closer to $600/month. •Infill the single vacant lot with a new or used home. •The SFR rent is significantly under market rent for the size of the home. With some repairs it could be rented to a new tenant at a much higher rate of likely $1,500 +/month based on comparable homes in Manteno. •There are a few vacant storage units that are not currently rented, but could be.
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 | $1,000,000 |
|---|---|
| Sites | 31 |
| Price per site | $32,258 |
| Cap rate | 11.30% |
| Year built | 1974 |
| Address | 10557 North State Route 50 |
| First seen by UnitListed | Sep 6, 2026 |
| Source page last checked | Oct 24, 2026 |
Before you call the broker
7 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.
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
Site count and hookup mix — 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.
- Sep 6, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
