February 3, 2025 – Anthony Spangler, Thomas Shanley, Andrew O’Connell and Dan Smith of Horvath & Tremblay have successfully completed the sale of Manteno Point Mobile Home Park, a thirteen (13) unit multi-family Property in Manteno, Illinois. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $650,000.
Manteno Point Mobile Home Park is located at 10617 N State Route 50 in Manteno, Illinois. The Property contains thirteen (13) residential units comprised of twelve (12), 2-Bedroom/1-Bathroom mobile homes, and one (1) Studio unit with 10,000 square feet of living area in 18,000 square feet of total gross area on a 1.4-acre parcel. Each unit is separately metered for electricity, heat (electric) and hot water (electric), which the tenants pay directly. The landlord is responsible for domestic water and sewer. The in-place rents at Manteno Point Mobile Home Park are significantly below market, the opportunity exists to increase rents to market rates in a supply-constrained market. The Manteno Point Mobile Home Park is positioned at the intersection of N 3000E Road and N State Route 50, the area’s primary commercial and commuter corridor. The Property is 1.5-miles from the center of Manteno, and offers convenient access to the area’s schools, businesses, retailers, and restaurants. The Property is also just 2.75-miles from Interstate 57 and 3.5-miles from US Highway 52. Manteno is in Will County, Illinois, nestled along Interstate 57 and Illinois Route 50, approximately 11 miles north of Kankakee, 27 miles southeast of Joliet, and 45 miles south of Chicago.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.