Riverside MHC
Rock Falls, IL
Asking price
$2,100,000
Sites
—
Cap rate
7.00%
Price / site
—
About this property
The Esterson MHC Team is pleased to present Riverside MHC, located in Rock Falls, IL, as a cash-flowing, value-add investment consisting of 109 MH lots with significant upside in both occupancy and rent growth. Located along the I-88 corridor connecting Chicago to the Quad Cities, Rock Falls and neighboring Sterling serve as a key economic region in northwest Illinois. Rock Falls is home to major employers such as Wahl Clipper Corporation, E.D. Etnyre & Co., and Self Help Enterprises, while the broader area benefits from a stable workforce and access to regional healthcare, education, and light manufacturing. The community offers access to the scenic Rock River, walkable neighborhoods, and a growing demand for affordable housing. Riverside MHC is a total of 109 MH lots, consisting of 65 tenant-owned homes (TOH, 1 Rent to Own Home (RTO, 4 vacant Park Owned Homes (POH, and 39 vacant MH lots, presenting a strong infill opportunity. The average lot rent is $320, with market lot rent estimated at $375, providing natural room for rental increases. Riverside is serviced by public water and sewer, which is directly billed to tenants. There is typically some overage in water/sewer usage that the park pays for. Trash is provided via curbside bins, also direct billed to tenants. Roads are paved and privately maintained and in average condition. The park lies partially within a flood zone, but is not in an Opportunity Zone. Riverside is being offered at a purchase price of $2,100,000, reflecting a cap rate of 7.0% on in-place operations. Investors may be able to achieve over 27% cash-on-cash returns by bringing vacant lots online and adjusting rents to market. All offers must include price, inspection timeline, terms, proof of funds, due diligence requirements, and relevant real estate experience.
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 | $2,100,000 |
|---|---|
| Cap rate | 7.00% |
| Address | 900 Regan Road |
| First seen by UnitListed | Sep 6, 2026 |
| Source page last checked | Oct 24, 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.
- Sep 6, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
