Lakelake Estates Mobile Home Park is a 91-pad community situated on 9.55 acres in Mattoon, Illinois. Developed in 1960, the park has been under current ownership for the past six years. The seller owns a broader portfolio of mobile home parks concentrated in the Pacific Northwest, and this asset is considered a geographical outlier, prompting the decision to sell. The property is zoned Commercial 0060-R3 and represents a value-add opportunity in a growing part of Mattoon, near the rapidly expanding Emerald Acres development and other residential growth corridors. The park is fully serviced by city water and city sewer, with both utilities along with garbage service currently backbilled to the tenants. Underground pipe materials throughout the park are a mix of types. Each pad is individually metered for electrical, gas, and water. Electrical pedestals within the park range between 50, 100, and 200 amp units. While all vacant pads appear ready to accept new trailers, some may require updated electrical pedestals to meet modern standards. Roads throughout the park are asphalt and considered to be in average condition, with the park handling ongoing road maintenance and snow removal. Tenants are responsible for mowing their own lots, while the park maintains the common areas and vacant pads. Currently, 17 of the 91 pads are occupied. Of those, 16 are tenant owned homes paying an average of $385 per month, and 2 are park-owned homes renting for an average of $390 per month. There is one additional vacant trailer on-site, but no homes are in poor enough condition to warrant removal. All leases are structured on a month-to-month basis. Rent was last increased on January 1, 2025. Eight tenants are currently behind on rent, presenting an opportunity for improved collections under new ownership. The park employs a manager and a maintenance person, providing consistent on-site oversight. Tenants have the convenience of paying rent online or at Walmart. Off-street parking is available for all residents. Lakelake Estates offers a solid foundation for an investor seeking a turnaround opportunity in a market showing signs of steady growth. With city utilities, solid infrastructure, and a large number of vacant pads that could be redeveloped or infilled, there is substantial upside for an experienced operator. While the seller may entertain short term seller financing for the right buyer, their preference is to be cashed out. Location Mattoon is a city in Coles County, Illinois. The population was 16,870 as of the 2020 census. The city is home to Lake Land College and has close ties with its neighbor, Charleston. Both are principal cities of the Charleston–Mattoon Micropolitan Statistical Area. The town is home to the "Original" Burger King. The median home cost in Mattoon is $96,400. Home appreciation the last 10 years has been 43.3%. Home Appreciation in Mattoon is up 13.5%. Renters make up 35.1% of the Mattoon population. Mattoon has an unemployment rate of 5.6%. The US average is 6.0%. Future job growth over the next ten years is predicted to be 33.3%, which is lower than the US average of 33.5%. The Median household income of a Mattoon resident is $41,320 a year. The US average is $69,021 a year. Mattoon violent crime is 17.7. (The US average is 22.7) Mattoon property crime is 29.5. (The US average is 35.4) The climate in Mattoon, IL is humid and continental. The summers are hot and humid with temperatures averaging in the mid-80s and sometimes reaching into he 90s. Winters are cold with temperatures averaging in the high 20s to mid 30s, with occasional snowfall from November through March. Spring and fall are mild with temperatures ranging from the 40s to 70s. Overall, Mattoon has a typical Midwestern climate. Mattoon, Illinois gets 40 inches of rain, on average, per year. Mattoon averages 16 inches of snow per year. Charleston is a city in and the county seat of Coles County, Illinois. The population was 17,286, as of the 2020 census. The city is home to Eastern Illinois University and has close ties with its neighbor, Mattoon. Both are principal cities of the Charleston–Mattoon Micropolitan Statistical Area. Coles County is a county in Illinois. As of the 2020 census, the population was 46,863. Its county seat is Charleston, which is also the home of Eastern Illinois University. The city of Mattoon recently started construction of a $70,000,000 sports complex that is projected to bring in 250,000 out of area visitors annually. This facility will be opening in 2024/2025. Here is a breakdown of the scope of the facility: • 4 Baseball/Softball/Multipurpose Turf Fields (300ft) • 4 Baseball/Softball/Multipurpose Turf Fields (400ft) • 4 Soccer/Multipurpose Turf Fields • 4 Soccer/Multipurpose Grass Fields • Championship Fields & warm-up areas • Walking/Bike Path • 140,000 sq ft Indoor Facility – 8 Basketball Courts (16 volleyball courts) – Collegiate Locker Rooms – Family Entertainment Center – Medical Tenant Space – Seating for ~3,000 for large events The economic impact of this sports complex is going to be huge for Mattoon. Here are their current projections: •30 year economic impact of: $3.3 billion •Annual economic impact of $110.5 million in Mattoon $54.4 million on-site $56.1 million off-site •Construction Impact of $194.6 million Lakeland Estates is located within two miles of this new development.