Macomb, IL MHC
1002 Lakewood Drive ,
Macomb, IL 61455
 
$425,000
Price
1.97
GRM
$10,625
Price Per Unit
40
Number of Units
35.16%
Cap Rate
1971
Year Built
$425,000
Price
1.97
GRM
$10,625
Price Per Unit
40
Number of Units
35.16%
Cap Rate
1971
Year Built
Investment Overview
This investment offers a new owner the ability to redevelop an A class, double wide Manufactured Housing Community. There are currently 40 double wide homes on site, likely all in need of removal.
The property features large common area concrete streets, sidewalks throughout the property, as well as street lights for the common area sidewalks.
The property is located at the southern edge of the city, offering a quiet setting that would lend itself well to 55+ housing, or an upper tier all age community.
The property is 13.6 acres m/l offering further potential for site count, if a new owner would prefer a larger single wide community.
Utilities and Infrastructure
All utilities are public, and are believed to be direct billed to residents. The property has been vacant for approximately 3 years, so the condition of the main lines are unknown.
Contact Broker for Additional Details
Due Diligence Disclosure
Current ownership purchased this property through a foreclosure sale, due diligence materials will be limited to publicly available information and buyer’s own due diligence.
Contact Broker for Additional Details.
Macomb, IL
Macomb is a prominent metro in western Illinois with a resident population of 15,000, and serving as the County seat of McDonough County. Macomb is surrounded by several commuter towns with limited housing, creating a further demand for affordable housing in the area.
FOR MORE DETAILS CONTACT
Jason Bergan
Broker
(563) 880-9679
jbergan@c21sre.com
S65228000 (IA)
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