Springfield Portfolio

Springfield Portfolio

Springfield, IL
  • Property Type: Manufactured Housing
  • Property Size: / 1,003 Total Sites


Capstone is pleased to present the Springfield Portfolio. This offering features 1,003 sites across 8 communities within Central East Illinois, with an opportunity to develop 82 sites at a 9th property in Jacksonville. Not only does the portfolio boast scaled entry into these markets, but it also allows for shared staffing due to the proximity of the communities. Since they are less than an hour from one another, the communities can easily benefit from an efficient management and maintenance team. The portfolio features several upside opportunities, such as filling the vacant homes and improving utility recapture at 5 of the properties. For example, if only 25% of the inventory homes were filled in Year 1, the effective rental income would increase by $594,178. With the recent Section 8 Housing changes that filled the market with numerous vouchers for higher rents, a new owner could immediately increase cash flow by focusing on the in-fill. Alternatively, a new owner could look into improving the utility recapture. The portfolio benefits from public utilities, which are paid for by the residents through master metering or direct billing, but the overall recapture rate hovers around 60%. If this rate was increased to 85%, a new owner could realize over $100,000 of additional income.

Investment Highlights

  • Springfield Housing Authority Opportunity
  • Newer Home Inventory
  • Significant Upside in Filling Vacant Homes
  • Public Utilities with Opportunity to Improve Recapture
  • Scaled Entry Into Springfield Market
  • Close Proximity Allows for Shared Staffing

Contact Information

Kevan Enger Managing Partner P: 407.494.8541
O: 800.261.9464 ext. 7004
Ian Hilpl Partner P: 315.406.0900
O: 800.261.9464 ext. 7008
Brian Hummell Director P: 614.318.5482
O: 800.261.9464 ext. 7011
Hunter LaRocca Senior Advisor P: 407.227.9643
O: 800.261.9464 ext. 7012