PLEASE DO NOT SPEAK WITH TENANTS OR EMPLOYEES

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1 Harvest estates mhc COMMUNITY PRICE: $1,1, For a video tour, please visit: PLEASE DO NOT SPEAK WITH TENANTS OR EMPLOYEES 1557 N State Route 5 Manteno, IL 695

2 PROPERTY DETAILS ADDRESS COUNTY SITE INFORMATION 1557 N State Route 5 Manteno, IL 695 Kankakee 5 Minutes South of Chicago TAX PARCEL ID SITES COMMUNITY TYPE LAND SIZE DENSITY 31 (3 MH and 1 single-family home) All Age 3.18 acres 9.75 sites/acre INVENTORY HOMES 2 ( vacant as of Apr 17) AVERAGE LOT RENT $38 (includes water, sewer, and trash) LAST RENT INCREASE $15 (Apr 17) MH PHYS OCC 97% (29 sites as of Apr 17) MH ECO OCC 97% (29 sites as of Apr 17) ROADS Asphalt FLOODPLAIN Zone X ZONING A-1 (Agricultural District) UTILITIES WATER Private Well (incl. in rent) SEWER Private Septic (incl. in rent) ELECTRICITY ComEd (direct billed) GAS Nicor (direct billed) CURBSIDE TRASH Homewood Disposal Service (incl. in rent) Kankakee County Courthouse INVESTMENT HIGHLIGHTS Harvest Estates MHC offers 3 mobile home sites plus 1 single-family home situated on 3.18 acres only 5 minutes south of downtown Chicago, with an MSA of 9.6 million people. Offering includes a single-family home that is rented for $9 per month and two occupied inventory homes. Stable, coupon clipper in strong MHC market with subject property currently under market with rents at only $38 per month. Sunny Acres MHC is just down the road from Harvest Estates and charges $52 for lot rent including water, sewer and trash. Community has only two park-owned homes, both of which are occupied. The home rents average $218 above lot rent. There is currently a local manager who is paid a management fee of 8%. Utilities are private with well water and five septic tanks. Excellent demographics with an average household income of $78,868 and average home value of $182,79 within a one-mile radius of the property. AREA HIGHLIGHTS Manteno sits about 5 minutes south of downtown Chicago and 2 minutes north of Kankakee, the county seat. Manteno offers residents proximity to several major employers including a Kmart distribution center, Sears distribution center and many of the county s largest employers a short drive away in Kankakee. Kankakee County had a population of 11,879 as of 215 according to the U.S. Census Bureau. Residents can enjoy a variety of shopping and entertainment including the Northfield Square Mall, which has over 65 shops anchored by Carson s, JCPenney and Sears. Several national chains are in the area including three Starbucks locations, Target, McDonald s, and Walmart Supercenter. Both Olivet Nazarene University and Kankakee Community College are within 25 minutes of the community. Olivet offers 2 areas of study with an enrollment of,9.

3 FINANCIAL ANALYSIS 216 Actuals Adjusted 1 Proforma 1 INCOME 2 Gross Scheduled Rent $11,39 $11,39 $136, Less: Vacancy.% ` 3.33% Less: Bad Debt.%.% 1.% Less: Concessions.%.%.53% Total Rental Income 1.% $11,39 1.% $11, % Plus: Home Rental Income 168 Plus: Single Family Home Rent 38 Plus: Storage Fees 153 Total Other Income 67 Effective Gross Income EXPENSES $11,39 $11,39 per site Actuals per site Actual Exp per site Repairs & Maintenance $1 $12,21 $278 $8,65 $275 Payroll 9 13, ,16 1 Administrative 62 1, Marketing Professional Fees 37 1, Utilities ,65 Electricity 79 2,3 81 Water Well 196 6,63 21 Sewer Septic 7 1,2 15 Gas 5 1, Trash 12,13 11 Total Variable Expenses $1,52 $7,133 $1,221 $37,86 $1,5 Taxes , , Other Tax Insurance 9 2, ,919 9 Management Fee.% 6.% Total Operating Expenses $2,12 $66,9 $1,83 $57,1 $1,99 Plus: Capital Reserves 5 Total Expenses $2,12 $66,9 $1,83 $57,1 $2,,56 1, $13,152 5,22 1,8,7 2,76 $15,912 Proforma Exp $8,525 3, ,57 6,25,6 1,585,356 $32,662 17,3 12 2,91 9,55 $61,83 1,55 $63,353 NET OPERATING INCOME $7,981 $8,25 $87,559 Expense Ratio 6.97%.1% 1.98% UNDERWRITING ASSUMPTIONS 1. Actual numbers from 216 tax return with Mortgage Interest, Other Interest, Depreciation, and Transfer Fee removed; Adjusted numbers based off of owner s 216 expense summary with adjustments made by ARA Newmark; Detail on adjustments is available in the Expense Summary 216 ARA Adjustments Excel file in the document library; breakdown of 216 income not available 2. Proforma GSR = $38 x 3 sites x 12 months; A $15 rent increase went into effect in April Proforma Concessions include one tenant getting $6/mo for water reading. Home Rental Income, Single Family Home Rent, and Storage Fees are from the April 217 rent roll 5. A water leak, overdue tree trimming, and upgrading two septic tanks resulted in a high number of capital R&M expenses in 216; a large portion of the septic expenses were related to pumping septic tanks that were performing poorly at the time; these expenses, totaling approximately $18k are removed in the 216 Adjusted column and Proforma; Additional detail is provided in the Expense Summary 216 ARA Adjustments Excel file in the document library Payroll includes management; Proforma adds in a Management Fee of 6% and sets Payroll to $1 per site 7. Electricity, Water Well and Gas grown 3% from 216; Water Well expense includes the well operator and well testing; Sewer Septic expense includes $6 per quarter for maintenance of the two new septic tanks and $56 per quarter for pumping the three remaining tanks; Trash expense is set to $363 per month 8. Proforma Taxes grown 5% from 216; Tax rate for 215 taxes payable 216 = ; 215 taxable value = $177, Historical Capital Reserves are unknown and do not represent actual amounts 1. Proforma is first year projection put together by ARA Newmark and may not represent actual future performance

4 PROPERTY location CHICAGO MICHIGAN INDIANA KANKAKEE HARVEST ESTATES MHC ILLINOIS INDIANA INDIANA OHIO INDIANAPOLIS CINCINNATI ST LOUIS TOP KANKAKEE COUNTY EMPLOYERS EMPLOYEES Riverside Medical Center 2,6 Shapiro Development Center 1,167 Cigna Health Care 1,1 CSL Behring 1, Kankakee School District # Presence St Mary s Hospital 85 Olivet Nazarene University 727 Baker & Taylor Co 58 Kankakee Community College 517 County of Kankakee 6 Source: Kankakee County 215 Comprehensive Annual Financial Report DEMOGRAPHIC INFORMATION 1 MILE 3 MILES 5 MILES 216 Average Owner Occupied Home Value Estimate $182,79 $185,11 $197, Average Owner Occupied Home Value Projection $237,798 $229,879 $22,25 Average Owner Occupied Home Value Growth Estimate %.3%.16% 216 Average Household Income Estimate $78,868 $73,768 $78, Average Household Income Projection $8,253 $78,738 $8,556 Average Household Income Growth Estimate % 1.31% 1.6% Source: U.S. Census Bureau

5 Property aerial HARVEST ESTATES MHC MANTENO Manteno Golf Course Olivet Nazarene University SHAPIRO DEVELOPMENTAL CENTER KANKAKEE Kankakee Community College RIVERSIDE MEDICAL CENTER A 325-bed hospital overlooking the Kankakee River. Ranked in the top 5% for heart surgery nationally by Healthgrades. The county s largest employer with 2,6 employees. SHAPIRO DEVELOPMENTAL CENTER Opened in 197 with 32 residential living areas. Serving 7 individuals from all across the state as of February 217. Home to 1,167 employees. CSL BEHRING A one million square foot manufacturing plant located in Bradley, just north of Kankakee. Recently completed a 1, square foot addition with another 3, square foot expansion underway. Kankakee s largest manufacturer with 1, employees.

6 5 W SYCAMORE RD COUNTRY RD E 21 N HARVEST ESTATES MHC Additional information for Harvest Estates MHC is available on our website at: PLEASE DO NOT SPEAK WITH TENANTS OR EMPLOYEES NATIONAL MANUFACTURED HOUSING GROUP PRIMARY CONTACTS: Todd Fletcher tfletcher@aranewmark.com T Andrew Shih ashih@aranewmark.com T Jon Shay jshay@aranewmark.com T Manufactured Housing Group: 91 S. MoPac Expressway, Barton Oaks Plaza II, Suite 275, Austin, TX 7876 T This information has been derived from sources deemed reliable. However, it is subject to errors, omissions, price change and/or withdrawal, and no warranty is made as to the accuracy. Further, no warranties or representation shall be made by ARA, A Newmark Company (ARA Newmark) and/or its agents, representatives or affiliates regarding oral statements which have been made in the discussion of the above property. This presentation, prepared by ARA Newmark was sent to the recipient under the assumption that s/ he is a buying principal. Any potential purchaser is advised that s/ he should either have the abstract covering the real estate which is the subject of the contract examined by an attorney of his/her selection, or be furnished a policy of title insurance. Do not contact the Property.