Mobile Home Park Details

Purchase Method: Cash, New Loan
Listing ID: 5345720
Posted On: Apr 22, 2024
Updated On: Sep 6, 2024

Description

Green Tree AHC is a smaller community located in Seneca, IL. The park is comprised of twenty-four pads. The total size of the park is approximately 3.30 acres. The park is zoning compliant (0060 improved commercial) and is not located in a flood zone. The park is currently managed by an out of state investor. The tenants currently pay rent via an online portal or by depositing funds at an account set up at a local bank. The park currently has 13 TOH & 4 POH. The pad rental rate is currently $400 per month. The 4 POH's currently average $945 per month. Tenants pay for their own utilities. The park provides garbage pickup for the tenants. Tenants are currently on a month-to-month lease.

City water & city sewer!!! The roads through the park were paved in March of 2024. The entire water system in the park was replaced within the past two years. The meters were installed in March of 2022. Three brand new trailers were added in 2023! The tenants mow their own space. Park mows common areas. The park also supplies snow removal during the winter months.

The sellers purchased the property with the intent of flipping it back in late 2020. In addition to replacing the entire water line, they have removed four vacant homes, done substantial work on tree trimming, lot clearing, and are in the process of pressure washing & painting some of the residents homes to improve the appearance of the park.

Location

Seneca is a village in LaSalle and Grundy counties in the U.S. state of Illinois. The population was 2,353 at the 2020 census, down from 2,371 at the 2010 census. The LaSalle County portion of Seneca is part of the Ottawa Micropolitan Statistical Area, while the small portion that lies in Grundy County is part of the Chicago–Naperville–Joliet Metropolitan Statistical Area.

Seneca, IL is located:

15 miles SE of Ottawa, IL
31 miles SW of Joliet, IL
68 miles NW of Bloomington, IL
71 miles SE of Rockford, IL
72 miles SW of Chicago, IL

A typical home costs $190,500, which is 43.7% less expensive than the national average of $338,100 and 21.2% less expensive than the average Illinois home, at $241,700. Renting a two-bedroom unit in Seneca costs $1,060 per month.

Seneca has an unemployment rate of 7.3%. The US average is 6.0%.

Seneca has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 20.0%, which is lower than the US average of 33.5%.

The median home cost in Seneca is $190,500. Home appreciation the last 10 years has been 36.2%. Home Appreciation in Seneca is up 8.8%. Renters make up 22.9% of the Seneca population.

Seneca, IL is home to many excellent schools that are highly rated and provide a great education to its students. The local schools in Seneca include Indian Creek Elementary, Central Intermediate School, Seneca Township High School, and several private schools. Each of these schools have been praised for their dedication to providing quality education and resources to its students.

Seneca, IL is part of the Ottawa Micropolitan Statistical Area.
Although Seneca, IL is a smaller farming community, there are a large number of jobs within a short drive of Green Tree AHC. Some of the larger local employers include the following:

•Walmart Distribution Center (1,000 employees, distribution)
•Exelon (800 employees, nuclear power)
•OSF St. Elizabeth (730 employees, healthcare)
•St. Margaret's Health (650 employees, healthcare)
•Illinois Valley Community Hospital (614 employees, healthcare)
•Illinois Valley Community College (536 employees, education)
•Monterey Mushroom (524 employees, crop production)
•Eakas Corporation (500 employees, automobile/injection molding)
•Ace Hardware Distribution (485 employees, distribution)
•Petsmart Distribution Center (450 employees, Distribution)
•Tyson Fresh Meats (394 employees, food processing)

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