The Decatur, IL MHP Portfolio is a portfolio of four parks. Three of the parks are located in Decatur, and the other park is located in a neighboring town, Niantic. The four parks have a combined 110 pads. Out of the 110 pads there are 71 tenant occupied (36 TOH, 29 POH, 6 RTO), and 39 vacancies (18 vacant pads & 21 vacant POH's). The current owner has owned these parks for approximately eight years. The parks are all believed to have been developed in the 1950's and 1960's. The parks currently have a manager who will not be moving forward in that position. The owner has identified greeter & maintenance candidates for each park in the portfolio.

This portfolio offers tremendous upside for seasoned operators by:

• Reeling in expenses (Parks are currently operating at 50% expense ratio)
• Adding water meters and back-billing for water & sewer
• Converting older POH's into TOH's or RTO's to minimize labor/repair expense
• Infilling vacant units
• Raising pad rental rates to market values

Harrison MHC is a 43-pad park on 4.51 acres. Of the 43-pads in the park, 27-pads are occupied by tenants (63% occupied). Here is the breakdown on pads in this park (15 POH, 11 TOH, 8 Vacant Pads, 8 Vacant POH, & 1 RTO). The pads in the park vary in size (35 pads are 60 x 40; 5 pads are 60 x 30; 3 pads are 50 x 50). One of the trailers needs to be removed (possibly more depending upon your business model). Five of the POH's are double-wide trailers. The majority of the POH's have titles. The park is on city water & city sewer! The park pays for garbage collection. The pipes are clay & galvanized. The majority of the electrical pedestals are 100-amps (but a few are still 60-amp). The park does not have water meters. The park pays for water and the tenants pay for all of the other utilities directly. The road is concrete and considered to be in "fair to poor" condition (requires annual cold patch work). The tenants have annual leases. The tenants currently pay their rent by physical collection. This park also has a shed onsite.

Southwest MHC is a 29-pad park on 3.09 acres. Of the 29-pads in the park, 22-pads are occupied by tenants (76% occupied). Here is the breakdown on pads in this park (4 POH, 15 TOH, 2 Vacant Pads, 5 Vacant POH, & 3 RTO's). The pads in the park vary in size (23 pads are 55 x 25, 1 pad is 80 x 25, 3 pads are 50 x 55, and 2 are 50 x 40 (SFR's). One of the trailers needs to be removed (possibly more depending upon your business model). The majority of the POH's have titles. The park is on city water & city sewer! The park pays for garbage collection. The pipes are clay and galvanized. The electrical pedestals are 100-amp. The park does not have water meters. The park pays for water and the tenants pay for all of the other utilities directly. The road is concrete and considered to be in "fair to poor" condition (requires annual cold patch work). The tenants have annual leases. The tenants currently pay their rent by physical collection. This park also has laundry facilities.

Decatur MHC is a 18-pad park on 17.25 acres. Of the 18-pads in the park, 8-pads are occupied by tenants (44% occupied). Here is the breakdown on pads in this park (4 POH, 4 TOH, 9 Vacant Pads, & 1 Vacant POH). The pads in the park vary in size (3 pads are 80 x 30, 2 pads are 70 x 30, 5 pads are 65 x 30, 6 pads are 45 x 30, & 6 pads are potential 80 x 32 lots). None of the trailers need to be removed from the park. The park has all of the titles to the POH's. The park is on well water & septic. The park pays for garbage collection. The pipes are black poly & PVC. The electrical pedestals are 100-amp. The park does not have water meters. The tenants pay for their own electric & gas directly. The road is gravel and considered to be in "fair" condition. The tenants have annual leases. The tenants currently pay their rent by physical collection. This park also has a shed onsite.

Niantic MHC is a 20-pad park on 4.90 acres in neighboring Niantic, IL. Of the 20-pads in the park, 14-pads are occupied by tenants (70% occupied). Here is the breakdown on pads in this park (6 POH, 6 TOH, 2 Vacant Pads, 4 Vacant POH's, & 2 RTO's). The pads are all very spacious (all are 80 x 50 or larger). None of the trailers need to be removed from the park. The park has the majority of titles to the POH's. The park is on city water & city sewer! The park pays for garbage collection. The pipes are clay & black poly. The electrical pedestals are 100-amp. The park does not have water meters. The park pays for water and the tenants pay for all of the other utilities directly. The road is concrete and is considered to be in "fair to poor" condition (requires annual cold patch work). The tenants have annual leases. The tenants currently pay their rent by physical collection. This park also has a shed onsite.