1 Mahoning Ave, Rantoul, IL 61866

Rancho Estates is a 52-pad mobile home community developed in 1960 and situated on approximately 4.28 acres. The property is reported to have approved mobile home park zoning and is not located within a designated flood zone. Current operations include an on-site maintenance technician, remote management by the district manager, and no full-time on-site manager. The community is largely stabilized with 49 of 52 pads occupied, including 36 tenant-owned homes paying average lot rent of $425 per month and 10 park-owned homes with average rents of approximately $800 per month, with clear title held by the seller to all park-owned units.

Residents operate under monthly lease agreements and rent is collected electronically through the Rent Manager portal. The property is served by municipal water and sewer, with utility costs back-billed to residents through submetering; electricity and natural gas are directly metered and billed by the providers, and each pad includes a 100-amp electrical pedestal. Internal roads are asphalt and reported to be in good condition, with ownership responsible for ongoing maintenance; tenants handle mowing individual lots and clearing driveways in winter, while ownership provides snow removal for park roads.

Ownership has completed improvements including removal of distressed homes, tree trimming, playground installation, street repaving, and the addition of water meters. There are currently three vacant pads and one additional home scheduled for removal due to poor condition, with potential for new home placement subject to city setback requirements.