Hello, we are currently looking at a park in Chicago area (Cook County). It has high lot rents (consistent with the market) and is 75% occupied with tenant owned homes. In order to realize the upside on this deal, we’re going to bring on additional homes to fill out the park. The one catch here is that the lots are smaller. Estimate that the lots can support homes no larger than 50’X18’.
My understanding is that these homes are rare and difficult to find. In the MHU community’s opinion, is it going to be possible to fill this park out with reasonably priced, decent condition used homes of this size? Any advice on finding homes of this size? Also, happy to hear any thoughts on owning/operating a park in Cook County, IL.