Price $3,000,000 NEW LOAN, Buyer Down Payment. NEW Loan Amount $2,200,000. 1% fee to assume Interest Rate 4.9%

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1 Manufactured Home Community Offering AND 1515 VANDENBROEK RD OFFERED BY Exclusively listed by Joanne Stevens OFFERING SUMMARY Price $3,000,000 NEW LOAN, Buyer Down Payment $800,000 NEW Loan Amount $2,200,000 Loan Type Assumable, recourse, 1% fee to assume Interest Rate 4.9% Amortization 25 year Spaces 251 Price per site $11,952 Vacant Sites 127 Year Built 1970 s Cap Rate 9.4% and 10% Cash on cash return 17% INVESTMENT OVERVIEW Stabilized mobile home parks with upside! This is an opportunity to purchase 251 sites in northern Wisconsin. The offering consists of 2 manufactured home communities Hickory Lane in Little Chute (near Appleton), and Whispering Pines in Merrill. The owners operate a large portfolio of manufactured home communities in several states. Their strategy for owning and managing communities has changed and they are selling some assets as a result. Of the 251 sites, there are 127 vacant sites. What that means for the new owner is HUGE upside and a value add property. On current financials with the vacant sites, the cap rate is 10% on Whispering Pines in Merrill, and 9.4% on Hickory Lane in Little Chute. Both properties are clean and well maintained. There are no abandoned homes and only 6 park owned rental homes. The collections are strong. These Marketing Materials are based solely on Broker s knowledge and do not constitute a representation or warranty by Owner with respect to any information contained herein. Both communities have city water and city sewer that is sub-metered and billed to the residents by the owner. continued on next page...

2 INVESTMENT OVERVIEW continued from previous page... Today, like never before, there are home manufacturers that finance new homes in communities. A fabulous opportunity awaits the investor for this property, to fill sites and increase the income. These communities could easily be 12% cap rates and more in a short period of time. The demand for manufactured homes in communities, especially for home rentals and rent to owns is increasing. It is anticipated that this demand will continue to escalate for the foreseeable future. In addition, more mobile home parks are filling more sites. The number of sites available to site homes on is finite, and it is still next to impossible to build a new community due to zoning barriers firmly in place. Financing: Assumable financing with approximately $825,000 down. There is a 1% assumption fee to the buyer. The loan is due in June The loan must be assumed, new financing is not an option. Potential Income Income Other Potential Income (late fees, lease app fees) $924,900 $13,264 Gross Potential Income $938,164 Vacancy / Collection allowance $466,980 Effective Gross Income $471,184 Expenses & Reserves $181,462 Net Operating Income $289,722 Annual Debt Service $156,360 Cash Flow after Debt Service $133,362 Principal Reduction $60,000 Total Return $193,362 Expenses Real Estates Taxes $67,436 Insurance $7,164 On Site Management $33,924 Worker s Compensation $4,800 Repairs & Maintenance $20,124 Supplies $266 Utilities: Elec and Gas $9,480 Water & Sewer $4,612 Trash $14,756 Snow and lawn $10,000 RESERVES $8,900 TOTAL EXPENSES $181,462 Expenses per site $723 AND 1515 VANDENBROEK RD OFFERED BY These Marketing Materials are based solely on Broker s knowledge and do not constitute a representation or warranty by Owner with respect to any information contained herein.

3 Manufactured Home Community Offering 1515 VANDENBROEK RD. INVESTMENT HIGHLIGHTS Outagamie County parcel sites 36 vacant sites All age community City water, city sewer submetered and paid by residents. Mostly single section homes. 3 star community Wooded lots Surrounding uses are residential and another mobile home park. Exclusively listed by Joanne Stevens OFFERING SUMMARY Price $1,900,000 NEW LOAN, Buyer Down Payment $535,000 NEW Loan Amount $1,365,000 Loan Type due in June 2019 Assumable, recourse, 1% fee to assume Interest Rate 4.9% Amortization 25 year Spaces 104 Price per site $18,269 Vacant Sites 36 Year Built 1970 s Lot Size (in acres) 3.5 Cap Rate 9.4% Cash on cash return 15% These Marketing Materials are based solely on Broker s knowledge and do not constitute a representation or warranty by Owner with respect to any information contained herein.

4 LOCATION HIGHLIGHTS Little Chute is a village in Outagamie County, in east central Wisconsin, and is considered a suburb of Appleton. The population of Little Chute is approx. 10,500. Local economy is based on manufacturing, medical, farming and education. Major employers are: Jack s Pizza, Bel Kaukauna Cheese, and the Little Chute School District. Potential Income ($310 x 104 x 12) Income Other Potential Income (late fees, lease app fees, pets, storage) $386,880 $6,915 Gross Potential Income $393,795 Vacancy / Collection allowance 36 vacant sites $133,920 Effective Gross Income $259,875 Expenses & Reserves $80,691 Net Operating Income $179,184 Annual Debt Service $97,325 Cash Flow after Debt Service $81,859 Principal Reduction $35,000 Total Return $116,859 Expenses Real Estates Taxes $35,849 Insurance $3,164 On Site Management payroll plus home $15,229 Worker s Compensation $1,800 Repairs & Maintenance $8,624 Supplies $266 Utilities: Elec and Gas $4,168 Water & Sewer $2,212 Trash $1,239 Snow and lawn $3,000 RESERVES $5,140 TOTAL EXPENSES $80,691 Expenses per site $776 No. of Spaces: Space Type: 104 Single & Sectional Current Rent(s): $310 plus water and sewer Monthly Income: $21, VANDENBROEK RD. These Marketing Materials are based solely on Broker s knowledge and do not constitute a representation or warranty by Owner with respect to any information contained herein.

5 Manufactured Home Community Offering Exclusively listed by Joanne Stevens OFFERING SUMMARY Price $1,100,000 NEW LOAN, Buyer Down Payment $280,000 NEW Loan Amount $820,000 INVESTMENT HIGHLIGHTS Lincoln County parcel All age community 147 sites 91 vacant sites 6 park owned homes included, valued at $45,000 Lot rent $305 plus water and sewer City water, city sewer, submetered and billed to residents Off street parking Hard surface streets in average condition 3 star community On site manager who wishes to stay on with the new owner. Wooded lots Collections are strong Existing loan must be assumed. Loan Type due in June 2019 Assumable, recourse, 1% fee to assume Interest Rate 4.9% Amortization 25 year Spaces 147 Price per site $7,430 Vacant Sites 91 Year Built 1970 s Lot Size (in acres) 20 Cap Rate 10% Cash on cash return 18% These Marketing Materials are based solely on Broker s knowledge and do not constitute a representation or warranty by Owner with respect to any information contained herein.

6 LOCATION HIGHLIGHTS Merrill is the county seat of Lincoln County in north central Wisconsin, approximately 100 miles from Green Bay and 20 miles north of Wausau. Population is approximately 10,000. Merrill is home to Church Mutual Insurance Company, the largest insurer of worship centers and Reindl Printing, one of the state's leading printing companies, Weinbrenner Shoe Company, Agra Industries, Merrill Manufacturing, Lincoln Wood Products and other firms. Other sources of employment in the area are Wal-Mart, tourism, medical and education. Potential Income ($305 x 147 x 12) Income Other Potential Income (late fees, lease app fees) $538,020 $6,349 Gross Potential Income $544,369 Vacancy / Collection allowance 91 vacant sites $333,060 Effective Gross Income $211,309 Expenses & Reserves $100,771 Net Operating Income $110,538 Annual Debt Service $59,035 Cash Flow after Debt Service $51,503 Principal Reduction $25,000 Total Return $76,503 Expenses Real Estates Taxes $31,587 Insurance $4,000 On Site Management payroll $15,000 plus unit $3,695 $18,695 Worker s Compensation $3,000 Repairs & Maintenance $11,500 Utilities: Elec and Gas $5,312 Water & Sewer $2,400 Trash $13,517 Snow and lawn $7,000 RESERVES $3,760 TOTAL EXPENSES $100,771 Expenses per site $686 No. of Spaces: 147 total 91 vacant 56 occupied Current Rent(s): $305 plus water and sewer Space Type: Single & Sectional Monthly Income: $17,609 These Marketing Materials are based solely on Broker s knowledge and do not constitute a representation or warranty by Owner with respect to any information contained herein.