Our Past Sales
Birchwood Terrace - Balsam Lake, WI - Mike and Diane Voltz
Mike and Diane had owned and operated Birchwood Terrace since they took over for Mike’s father in the 1990s. Throughout the years, they put their heart and soul into the park. When it came time to retire from their full time jobs, Mike and Diane decided they wanted to travel more, but in doing so, they began to have to manage the park from afar. Rather than enjoying their time away, they would be responding to resident calls and trying to coordinate repairs from 5 states away. In 2023, they decided to sell the park and fully enjoy their retirement. Noah approached them about selling, they decided on a list price, and three days after signing the listing agreement, the park was under contract. Within 60 days, the sale was finalized. Mike and Diane were approached by another owner a year prior, but were offered about $100,000 less than what the Midwest MHC Broker team was able to bring them.
3-Park Portfolio - Hamilton, MO - Jeff and Theresa Dalton
After receiving one of our mailers, Jeff and Theresa reached out to the Midwest MHC Broker team in the spring of 2022. A couple years prior, Jeff had been involved in an accident and was not able to keep up with daily tasks in a way that was suitable for him. After weighing their options, they decided it was time to sell the parks and let a new owner take the reins. Jeff and Theresa had been involved in the mobile home park industry, in some fashion, for 30+ years. During that time, they brought in new homes to their parks, upgraded the utilities, and connected on a personal level with many of their tenants. Because of this, and not different from many of our sellers, they wanted their park to go to someone that shared their vision. Enter, the buyer.
The buyer is a Missouri native that was moving back to his roots after years in Colorado. Although he had just sold his business, he wasn’t ready to retire yet and was looking for an investment to occupy his time. The additional land and lots in this portfolio were the perfect fit. Immediately upon purchasing the properties, the buyer laid the groundwork to install more RV lots and began remodeling two park owned homes. He is still working on upgrading the park and bringing it to full capacity.
Breezy Pointe Mobile Home Park: McGregor, IA - Bill Burke
Bill called me after receiving several direct marketing messages from me. He had a Mobile Home Park that he had developed, and he had been trying to sell with his local real estate for a few years. I met with Bill to get a better understanding of the park, and we prepared to list at the same price he had been asking for the last several years while marketing the property. I spoke to a past client of mine, and they had an immediate interest. After a lot of back and forth, we came to an agreement on price and terms, and then all sat down together during the due diligence period to make sure everyone was on the same page. The deal progressed smoothly and we closed at the original agreed upon price, which was 96% of the planned listing price. Both the buyer and seller walked away happy, and all of it was done without disrupting the property or the tenants.
Webb's RV Park - Hartford, IA - Dale and Linda Webb
Dale and Linda Webb created something from nothing when they founded Webb’s RV Park. Dale purchased the bare piece of land where the park now sits in 1977. As an employee of the city of Des Moines, Dale spent his spare time clearing out the land and installing RV lots through the park. In 45 years, Dale and Linda installed 100 RV lots, numerous amenities for their clients, and literally made it their home. After the park took off, they decided to build their forever home right at the entrance of the park.
Eventually, though, Dale and Linda had an inkling to sell the park they dedicated their life to by approaching a local broker. After a year on the market with a different brokerage, the Webbs reached out to Jason about selling their park. Jason had it listed for six months, but he wasn’t able to bring them an offer that satisfied their needs. Two years later, Jason approached them again about listing the property. After re-evaluating the property, Jason and the Webbs agreed to list the park again. This time the park was listed 25% above the list price from 2019. Immediately, our team received numerous offers, but Dale and Linda wanted to hold out for a full price offer.
After just over a month on the market, a local investor approached the team about purchasing the property. With a little bit of negotiation on both sides, the buyer agreed to purchase the property for the full asking price. Today, the park is continuing its operations and is looking to expand its lot count in the coming years.
Spruce Village: Montezuma, IA - The Tompkins Family
The Tompkins Family owned and operated their mobile home community between two generations of their family. Lyle operated the day to day of the park, and his son helped with the big projects and was the owner of the park. Their park had a high number of older park owned homes, which made the sale difficult. We worked with three different buyers over the course of several months. Two of the buyers that wrote offers didn’t end up following through on the purchase, but I quickly found a new buyer each time for the sellers. In the end we found a great lender that helped the third buyer get the deal done, all while getting the Tompkins the price and terms they were looking for in the sale of their property.
Two years later, in 2023, the buyer was looking to sell the park. During his ownership, he was able to raise lot rent to market rent and transition the park from primarily park owned homes to tenant owned homes. After the park was stabilized, the buyer was ready to move onto another mobile home community. Due to his high quality experience with Jason during his acquisition, the buyer chose to have us list the property when it came time to sell.
Upon sending it to our private buyers list, Jason immediately received an offer from clients that had purchased a park from the team a year prior. By working with repeat clients, we were able to facilitate a hassle-free due diligence and closing process.
Areas of Service include: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, South Dakota, and Wisconsin