Ludlow MHP is a 12-pad mobile home park located in Ludlow, Illinois, situated in Champaign County. The park is believed to have been developed around 2000 and is fully zoned for mobile home park use. It is not located in a flood zone. The current owner has held the property for approximately 1.5 years and has made several improvements including adding parking, installing street lights, replacing plumbing and gas lines, bringing in additional trailers, and cleaning up the grounds. The seller is open to holding a second note of up to $50,000 at 6% interest-only with a 3-year balloon, offering additional flexibility for prospective buyers. The park operates on city water with a single master meter, and tenants pay a flat $50 monthly fee for water usage. Sewer service is provided via private septic systems. The park also pays for garbage service and maintains the gravel roads throughout the community. Underground utility lines consist of PVC and clay piping. Each pad is equipped with electric, gas, and water meters, with tenants billed directly for electric and gas usage by the respective utility providers. The exact amperage of the electrical pedestals is not confirmed. The park mows all common areas, while tenants are responsible for snow removal from their individual spaces. Off-street parking is available for all units. Of the 22 pads, 9 are currently occupied. There are two vacant POH trailers that the owner believes need to be removed. The park includes six park-owned homes (POHs), four are currently renting for $395 per month plus $50 for water. Additionally, there are five tenant-owned homes (TOHs), with those tenants also paying $395 per month plus $50 for water. Rent was last increased in 2024. At present, five tenants are behind on rent payments. Tenants pay rent either through Apartments.com or by mailing checks to the owner. No formal leases are currently in use, which offers the next owner an opportunity to standardize lease agreements and collections. The park does not currently have an onsite manager. However, the owner believes one of the existing tenants would make a strong candidate for a greeter or part-time manager for the next ownership group. There is a maintenance man in place handling day-to-day repairs and upkeep. The seller mentioned supplying tenants with exterior paint and white roofing coat, although tenants did not take advantage of these improvements—highlighting an opportunity for further aesthetic upgrades under new management. Ludlow MHP presents a value-add opportunity with upside through increasing occupancy, implementing formal leases, and improving collections. The park’s essential infrastructure—city water, private septic, and direct tenant billing for most utilities—is already in place, while the seller’s recent improvements provide a solid foundation for continued operational growth. Located in Champaign County, this property benefits from proximity to larger metro areas while offering a quiet, small-town environment for tenants. Location: Ludlow is a village in Champaign County, Illinois. The population was 308 at the 2020 census. The median home cost in Ludlow is $99,800. Home appreciation the last 10 years has been 52.8%. Home Appreciation in Ludlow is up 15.4%. Renters make up 29.2% of the Ludlow population. The average 1-bedroom rents for $740/month. The average 2-bedroom rents for $880/month. The average 3-bedroom rents for $1,140/month. The average 4-bedroom rents for $1,180/month. Ludlow has an unemployment rate of 5.0%. The US average is 6.0%. Ludlow has seen the job market decrease by -4.0% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%. The Median household income of a Ludlow resident is $44,000 a year. The US average is $69,021 a year. Ludlow, IL has a humid continental climate with hot summers and cold winters. During the summer months, temperatures can reach up to the mid-80s Fahrenheit with high humidity levels. On average, Ludlow experiences approximately 31 inches of precipitation annually, mostly during April through September. Winters are characterized by cold temperatures that often drop below freezing at night. Snowfall typically ranges between 25 and 30 inches per year in this part of Illinois. Ludlow, Illinois gets 40 inches of rain, on average, per year. The US average is 38 inches of rain per year. Here are the 10 largest employers specifically in the Champaign–Urbana metro area, along with their approximate employee counts: 1. University of Illinois Urbana-Champaign (13,934 employees) 2. Carle Foundation Hospital (6,921 employees) 3. Champaign Unit 4 School District (1,664 employees) 4. Kraft Heinz (925 employees) 5. Christie Clinic (916 employees) 6. Champaign County (893 employees) 7. Urbana School District 116 (828 employees) 8. FedEx (815 employees) 9. OSF HealthCare (774 employees) 10. Parkland College (741 employees)