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Mobile Home Park

Focus Mobile Home Park

398 Graner St, Smithton, IL 62285

Listing Price: $5,500,000

Cap Rate
4.24%
Number of Spaces
95
Lot Size
18.80 acres
Occupancy
94.0%
Price/Space
$57,895
Spaces/Acre
5.05
Year Built
1990

Investment Overview

With an enviable combination of highly rated schools, low crime, and high rate of homeownership (88%), the Village of Smithton is a prime location for families. The US Census Bureau reports that 65% of households are comprised of families. In 2019, Safewise named the village in the top 100 of Safest Small Towns in the U.S.. The median home price in Smithton is $238,400 and home appreciation is up 11.1% in the last 12 months. With only 1% of the housing available being multi-unit and 13% mobile home, there are very few options for lower income families. However, the average commute to work is quite long. On average, people spend 30.33 minutes each day getting to work. This brings most residents into St. Louis, MO for work which is approximately 20 miles northwest. There are many projects coming to St. Louis including: • A NASCAR cup race this June 2022 at World Wide Technology Raceway which could bring in as much as $60 million to the region, attract more than 83,000 fans, and is expected to make long-term impact on the community • Ameren Illinois broke ground March 2022 on a $10.2 million solar field on 17 acres of land and the company will pay an estimated $50,000 in property taxes annually on the site • Ameren Illinois has invested $86 million in St. Louis in the last five years on projects including renovation of a 29,000 square foot operation, substation upgrades, and smart grid projects to improve service reliability • $5 million investment for St. Louis Downtown Airport anticipated to begin construction in 2022 and support more than 450 high-tech aerospace manufacturing jobs Arguably the largest project coming to the area is a major shift and facelift over the course of the next few years with an $800 million development and master plan. Michigan real estate developer, Howard Hughes III, has marked St. Louis, IL as the next destination for him and his team to upgrade with their expertise, experience, and investment. The first phase of the development plan will see between 25 and 50 homes and two new hotels spring up. In the second phase, the CBD Central Business District will be developed to feature shops, downtown lofts, restaurants, and various forms of entertainment. The third phase of the development will feature the redevelopment of St. Louis’ most precious and treasured parcel of land, the Riverfront. The development will turn St. Louis, IL into a smart city with remarkable features like city-wide Internet of Things (IoT), solar farms, solar homes, and green and renewable energy supply.

Investment Highlights

  • 100% Lot Rent Mobile Home Park
  • City Water and Sewer
  • Less than 40 Miles from St. Louis Lambert International Airport
  • Rated one of the Top 100 Safest Towns in the US
  • 3.5+/- Acres for Expansion - Already Zoned for Manufactured Housing
  • 0.3 Miles From the Smithton Consolidated School

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Mobile Home Park

Focus Mobile Home Park

Listing Price: $5,500,000

Cap Rate
4.24%
Number of Spaces
95
Lot Size
18.80 acres
Occupancy
94.0%
Price/Space
$57,895
Spaces/Acre
5.05
Year Built
1990

Investment Highlights

  • 100% Lot Rent Mobile Home Park
  • City Water and Sewer
  • Less than 40 Miles from St. Louis Lambert International Airport
  • Rated one of the Top 100 Safest Towns in the US
  • 3.5+/- Acres for Expansion - Already Zoned for Manufactured Housing
  • 0.3 Miles From the Smithton Consolidated School

Investment Overview

With an enviable combination of highly rated schools, low crime, and high rate of homeownership (88%), the Village of Smithton is a prime location for families. The US Census Bureau reports that 65% of households are comprised of families. In 2019, Safewise named the village in the top 100 of Safest Small Towns in the U.S.. The median home price in Smithton is $238,400 and home appreciation is up 11.1% in the last 12 months. With only 1% of the housing available being multi-unit and 13% mobile home, there are very few options for lower income families. However, the average commute to work is quite long. On average, people spend 30.33 minutes each day getting to work. This brings most residents into St. Louis, MO for work which is approximately 20 miles northwest. There are many projects coming to St. Louis including: • A NASCAR cup race this June 2022 at World Wide Technology Raceway which could bring in as much as $60 million to the region, attract more than 83,000 fans, and is expected to make long-term impact on the community • Ameren Illinois broke ground March 2022 on a $10.2 million solar field on 17 acres of land and the company will pay an estimated $50,000 in property taxes annually on the site • Ameren Illinois has invested $86 million in St. Louis in the last five years on projects including renovation of a 29,000 square foot operation, substation upgrades, and smart grid projects to improve service reliability • $5 million investment for St. Louis Downtown Airport anticipated to begin construction in 2022 and support more than 450 high-tech aerospace manufacturing jobs Arguably the largest project coming to the area is a major shift and facelift over the course of the next few years with an $800 million development and master plan. Michigan real estate developer, Howard Hughes III, has marked St. Louis, IL as the next destination for him and his team to upgrade with their expertise, experience, and investment. The first phase of the development plan will see between 25 and 50 homes and two new hotels spring up. In the second phase, the CBD Central Business District will be developed to feature shops, downtown lofts, restaurants, and various forms of entertainment. The third phase of the development will feature the redevelopment of St. Louis’ most precious and treasured parcel of land, the Riverfront. The development will turn St. Louis, IL into a smart city with remarkable features like city-wide Internet of Things (IoT), solar farms, solar homes, and green and renewable energy supply.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

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