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Hi Tide RV Park & Campground

RV Park with additional recreational revenue streams less than an hour from the Chicago suburbs.

Listing Contacts

Active

Asking Price: $4,650,000
Earnest Money  Deposit: 1% min.
Address 

4611 E 22nd Rd, Leland, IL 60531

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Date Added
Sep 24, 2022
Days on Market
908 days
Time Since Last Update
63 days

Details

Property TypeMobile Home Park
SubtypeRV
Investment TypeOwner/User
Cap Rate11.10%
Units180
Year Renovated2021-2022
Broker Co-OpYes

Marketing Description

Hi Tide is a newly upgraded 180-site RV Park with a beach that has several on-site entertainment options.​ The park is less than an hour from the Chicago suburbs and located just 25 minutes from I-80 to the south and the same distance from I-88 to the north.​ Visitors can take advantage of the RV sites or one of the four cabins, but where they stay is just the beginning.​

The park features a pool (with pool house) and a beach that both draw summer swimmers from renters on-site as well as nearby communities.​ The lake features a 60-foot long waterslide, nautilus, 3 trampolines, 3 lily pads, 2 rockets, a climbing raft, an iceberg, and a log roll.​ On land you’ll find: a miniature golf course, the 7000 square foot store*, a sand volleyball court, a basketball court, a gaga ball court, horse shoes, a bags court, playground equipment, 2 bath houses, a laundry facility, 2 pavilions, bikes for rent, 25 grills, 110 fire rings, 155 picnic tables, a half-mile walking trail in the woods, and gaming machines.​

*The store features all new shelving, 3 merchandise coolers, and 3 cash registers.​ The kitchen includes 5 pizza ovens, 2 oil fryers, an air fryer microwave, 2 storage freezers plus a large freezer, an ice cream freezer, a novelty ice cream freezer, and a 3-door refrigerator.​

Investment Highlights

Why Hi Tide? The reason for investors is the same as the reason for the renters: this is no ordinary cash generating RV Park. The multiple alternative revenue streams, especially the unique water entertainment, add to an already highly profitable park. Also, the rental rates for RVs and campers are low for the market despite having high level amenities, which creates the potential for an even quicker return on investment. With NOI over $500k for the last three years and Cap-X expenditures of $126k in this year alone to improve the grounds and entertainment options, Hi Tide is poised for great income for years to come.

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