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1119 Lake St
Kewanee, IL 61443

Mobile Home Park (Kewanee Il) · Multifamily Property For Sale · 70,000 SF

Investment Highlights

  • Strong market demand
  • Potential for city monetary support
  • RV park addition opportunity

PROPERTY FACTS

No. Units 94
Property Type Multifamily
Property Subtype Manufactured Housing/Mobile Home
Apartment Style Single Family Home
Building Class C
Lot Size 31.35 AC
Building Size 70,000 SF
No. Stories 1
Year Built 1973

About 1119 Lake St , Kewanee, IL 61443

The Kewanee community is conveniently located along the 34 and 78 corridor with easy access to both interstate 80 and Interstate 74. Rand McNally’s 2013 Best of the Road Contest dubbed Kewanee Illinois as America’s Friendliest Small Town, saying “where good cheer, genuine courtesy, and community service are cited as hallmarks.” Comprising four separate parks (on 5 non-contiguous parcels) located near each other, the communities consist of 237 MH lots and an office building with a large second story apartment, garage, and workshop. There are approximately 94 usable homes at the park of which approximately 53 are occupied. There are additionally 12 units that are being refurbished for rent by a local Lonnie Dealer group. All parks are on public water & public sewer. There are 7 master meters and one of the value-add opportunities is to add individually metered water, as the park is currently subsidizing water use. Currently water is billed a flat rate per site based on number of occupants (starting at $35/mo.) and trash is billed as a flat fee per site at $17/mo. Tenants are responsible for their own gas & electricity.

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 20-27-408-011
  • 20-27-460-014
  • 20-27-407-007
  • 20-32-228-027
  • 20-29-454-012
  • 20-34-126-014
  • 20-27-408-015
  • 20-27-476-003
  • 20-32-228-026
  • 20-29-454-010
  • 20-29-454-013
Land Assessment
$90,872
Improvements Assessment
$178,459
Total Assessment
$269,331

zoning

Zoning Code Mobile Home Park
Mobile Home Park
  • Listing ID: 29170257

  • Date on Market: 2023-08-02

  • Last Updated:

  • Address: 1119 Lake St, Kewanee, IL 61443

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