CRE N Illinois

Marcus & Millichap sells 170-space manufactured housing community in Illinois

Marcus & Millichap Real Estate Investment Services recently sold Mt. Morris Estates, a 170-space manufactured home community property located in Mount Morris, Ill. The asset commanded a sales price of $3.6 million.

Marcus & Millichap Real Estate Investment Services recently sold Mt. Morris Estates, a  170-space manufactured home community property located in Mount Morris, Ill. The asset commanded a sales price of $3.6 million.

Bill Bailey and John Bailey, investment specialists in Marcus & Millichap’s Chicago downtown office, had the exclusive listing to market the property on behalf of the seller, a partnership.

Mt. Morris Estates is located in Northwest Illinois and is considered to be a part of the Rockford MSA. The community was 97-percent occupied at the time of sale and many of the homes have their own garages or carports.