Southview Estates MHC is a 26-pad mobile home community located on 8.69 acres on the outskirts of Vandalia, IL. The park was developed in the 2006 and has served the community by offering an affordable housing option since that time. The property is zoned residential improved and approved for seven more homes. 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 maintenance man who lives onsite.

The pad size are large and will accommodate 14 x 80 trailers and a few double-wide models. There are currently not any trailers that need to be removed from the premises. Of the 19 occupied pads in the park, all 19 of the trailers are POH's averaging $640/month (including maintenance fee, trash, insurance, & taxes). There are currently zero tenants behind in their rent. The park utilizes leases both annual & month-to-month leases for its residents. The tenants currently pay their rent via check, bank deposit, Cashapp, & Venmo. The park has the titles to all 19 trailers.

PUBLIC WATER & septic (aeriation systems)! The underground pipes were replaced in 2019 when the park was hooked up to city water. The electrical pedestals are believed to be 100 amps. Residents are direct billed for water, electricity, & gas by the utility providers. Garbage, insurance, maintenance, & taxes are built into the home rent. The park is located on a county road and the park owner has no maintenance as a result. The tenants mow their own pads and the park mows the common areas. The tenants move snow in their driveway as needed.

The owner took back the park on January 1st, 2024 as the contract for deed with the previous buyer was defaulted on. Since the owner has taken over he has been quite active in addressing some deferred maintenance issues. Here is a list of everything that he has improved since taking the park back:

1. Remodeled eight homes
2. New furnaces in all of the homes that needed to be replaced
3. New water lines in all of the homes that needed to be replaced
4. New floors in all of the homes that needed to be replaced
5. Sealed all roofs in the park
6. Serviced all aeration systems and added them into a RexVault service plan for all systems
7. New front exterior doors on all homes that needed to be replaced

When asked what improvements he would continue to make if he continued to own/operate the park?

1. I bought material to place four awnings on trailers. I would continue to build awnings on all trailers to keep rain off of exterior doors.
2. New skirting on trailers
3. Paint decks
4. Sell or RTO the trailers to the tenants to eliminate maintenance requirements

As the current owner just took the park back from a defaulted contract for deed, he is not interested in any "seller finance or master lease" offers. The park has been priced for a quick, all cash sale.