Shopoff Acquires Three Mobile Home Communities in North Central IL
Shopoff Realty Investments has acquired a 611-lot, three-property portfolio of manufactured housing communities in North Central Illinois for an undisclosed sum. The three properties include Oak Creek Estates in Bourbonnais, Lincoln Terrace in Lincoln and Belle Aire in Marseilles.
“The large number of lots will allow immediate economies of scale for the operations of the communities,” said president and CEO William Shopoff. “This is Shopoff’s second purchase of a mobile home community in recent years, and we have found this type of asset to offer tremendous untapped value as people are looking for alternatives to apartments and other more traditional multifamily housing.”
Shopoff plans to create value by streamlining operations, making physical improvements where needed, and also addressing vacancies, with 112 lots currently vacant across the three properties.
EVP Brian Rupp said the three communities will offer Shopoff “a variety of potential value-add opportunities through asset improvement.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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