***Price reduced to $400,000 on January 5th, 2024***

Greenland Estates is a beautiful 34-site affordable home community located on 4.25 acres in Casey, IL. Currently only 14-sites are developed and the remaining 20-sites that are undeveloped will only need laterals ran and pads poured. The park was built in 1997. The property is zoned (0030 & 0050) commercial and the park is presently enjoying legal & conforming status according to the seller. The park is not located in a flood zone. The park is presently owned by a local who handles both the management and the maintenance of the park. He may be willing to stay on in this position for a few years.

The size of the pads in the park are approximately 50 x 125. There are currently no vacant trailers that need to be removed from the premises. The developed portion of the park is 57% occupied. Of the 14 developed pads in the park, two pads are occupied with tenant owned homes averaging at $125/month (have never had their rent raised since living there), five are POH's averaging $520/month, one POH is vacant, and six pads are vacant. The pad rental rate has not been raised and neighboring small town have pad rental rates ranging between $150-300. The POH rents are raised with new occupants or by discretion of the current owner. Currently none of the tenants are behind in rent. The tenants pay via a drop box next to the mailboxes. Demand for rentals has been strong according to the owner. He has been very particular about who he rents to.

This park is on CITY WATER & CITY SEWER! The water lines are all believed to be all PVC. The sewer lines are believed to be PVC. The amperage of each electrical pedestal is unknown by the owner but he believes they are all at least 100 amp. The park has electric meters to each pad. The roads through the park are gravel and are considered to be in "good" condition by the current owner. The park currently mows the entire park. The park takes care of snow removal (as needed).

This is the only MHP in the city of Casey. The current owner has really cleaned the facility up and the grounds are immaculate. The mains are centrally located so developing the undeveloped portion of the park will only include laterals, pedestals, and pouring concrete pads. This means that you can feasibly do this pad by pad as demand merits to eliminate undue capital expenditures.

There are two double wide's on the south side of the park that could be surveyed out and sold separately by the new owner. The seller anticipates those two could sell for $180,000 combined should the new owner want to do so.

Price is firm. No seller carry.

Jon Fisher is the Designated Managing Broker for MR. LANDMAN, LLC and is licensed in the State of Illinois under Lic#471.020503.