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2 Park Port - Dixon & Rock Falls IL 2 biens • Immeuble residentiel • À vendre 4 550 469 $ CAD • Emplacements multiples
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RÉSUMÉ DE L'ANNONCE
The Esterson MHC Team is pleased to present this 2 Park Portfolio in Dixon and Rock Falls, IL, a cash-flowing, value-add investment consisting of 175 units and significant upside in occupancy and rents.
Located on the 88-corridor connecting Chicago and the Quad Cities, Dixon serves as a regional hub for commerce, healthcare, and education in northwestern Illinois. The city is home to major employers such as KSB Hospital, Dixon Correctional Center, and Donaldson Company. Rock Falls serves as a vital link for the regional economy, with key employers including Wahl Clipper Corporation, Self Help Enterprises, and E.D. Etnyre & Co. The properties are just 20 minutes apart, offering scale and centralized management within the Sterling-Dixon MSA.
This portfolio is a total of 175 manufactured housing (MH) lots, consisting of 117 tenant owned homes (TOH), 1 rented park owned home (POH), 1 rent to own unit (RTO), 11 vacant POH, and 45 vacant MH lots. There is also a farm lease. The average lot rental rate per month is $320. The park owned home rents for $100 above lot rent, and the average RTO payment above lot rent is $104.
Riverside is serviced by public water and sewer that is billed directly to tenants, but the landlord is billed any difference between the master meter and the submeters. Trash at Riverside is serviced by curbside bins and billed directly to tenants. Green Acres is serviced by well water and lagoon sewer. The water and sewer are billed back to tenants at a flat rate. City sewer is available and could be connected at Green Acres. Trash at Green Acres is serviced by dumpster and included in rent. The roads are private and paved at both parks and in average condition. Riverside is partially in a flood zone and is not in an opportunity zone. Green Acres is not in a flood zone or opportunity zone.
The portfolio is being offered at a blended purchase price of $3,300,000, with a weighted average cap rate of 8.01% based on in-place operations. Investors may be able to achieve over 26% cash on cash by responsibly reaching market rents and full occupancy. All offers must include price, inspection timelines, appropriate terms, proof of funds, a list of due diligence required from owners, and relevant real estate experience.
Located on the 88-corridor connecting Chicago and the Quad Cities, Dixon serves as a regional hub for commerce, healthcare, and education in northwestern Illinois. The city is home to major employers such as KSB Hospital, Dixon Correctional Center, and Donaldson Company. Rock Falls serves as a vital link for the regional economy, with key employers including Wahl Clipper Corporation, Self Help Enterprises, and E.D. Etnyre & Co. The properties are just 20 minutes apart, offering scale and centralized management within the Sterling-Dixon MSA.
This portfolio is a total of 175 manufactured housing (MH) lots, consisting of 117 tenant owned homes (TOH), 1 rented park owned home (POH), 1 rent to own unit (RTO), 11 vacant POH, and 45 vacant MH lots. There is also a farm lease. The average lot rental rate per month is $320. The park owned home rents for $100 above lot rent, and the average RTO payment above lot rent is $104.
Riverside is serviced by public water and sewer that is billed directly to tenants, but the landlord is billed any difference between the master meter and the submeters. Trash at Riverside is serviced by curbside bins and billed directly to tenants. Green Acres is serviced by well water and lagoon sewer. The water and sewer are billed back to tenants at a flat rate. City sewer is available and could be connected at Green Acres. Trash at Green Acres is serviced by dumpster and included in rent. The roads are private and paved at both parks and in average condition. Riverside is partially in a flood zone and is not in an opportunity zone. Green Acres is not in a flood zone or opportunity zone.
The portfolio is being offered at a blended purchase price of $3,300,000, with a weighted average cap rate of 8.01% based on in-place operations. Investors may be able to achieve over 26% cash on cash by responsibly reaching market rents and full occupancy. All offers must include price, inspection timelines, appropriate terms, proof of funds, a list of due diligence required from owners, and relevant real estate experience.
FAITS SUR LA PROPRIÉTÉ
| Prix | 4 550 469 $ CAD | Nombre de propriétés | 2 |
| Prix/pi² | 51,42 $ CAD / pi² | Individuellement en vente | 0 |
| Taux de capitalisation | 8,11% | Taille totale du bâtiment | 88 501 pi² |
| Type de vente | Investissement | Superficie totale du terrain | 20,15 AC |
| Statut | Actif |
| Prix | 4 550 469 $ CAD |
| Prix/pi² | 51,42 $ CAD / pi² |
| Taux de capitalisation | 8,11% |
| Type de vente | Investissement |
| Statut | Actif |
| Nombre de propriétés | 2 |
| Individuellement en vente | 0 |
| Taille totale du bâtiment | 88 501 pi² |
| Superficie totale du terrain | 20,15 AC |
PROPRIÉTÉS
| NOM DE LA PROPRIÉTÉ/ADRESSE | TYPE DE PROPRIÉTÉ | TAILLE | ANNÉE DE CONSTRUCTION | PRIX INDIVIDUEL |
|---|---|---|---|---|
| 519 2nd Ave, Dixon, IL 61021 | Immeuble residentiel | 1 501 pi² | 1980 | - |
| 900 Regan Rd, Rock Falls, IL 61071 | Immeuble residentiel | 87 000 pi² | 1980 | - |
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CONTACTS
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Glenn Esterson -
Sallie Whitehurst Peters -
Dylan Hellberg -
Steven Weinstock -
Marcus & Millichap
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2 Park Port - Dixon & Rock Falls IL
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