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Cortland Manufactured Housing Community

300 S Somonauk Road - Cortland, IL


Currently operating 81 rentable mobile home sites. There are 18 additional MH sites and a 3 unit apartment complex currently off line due to capacity limits of the current septic system. City water and sewer may be accessible to the community, but arrangements must be made by the future owner for such services.

See the Auction Offering Memorandum and Bidder’s Information Packet for details related to the on-site septic system which has had a history of non-compliance issues and the resolutions to these conditions which requires the on-site septic system be pumped and hauled off-site for disposal.

As part of the 2014 agreement addressing the septic issue, ownership contracted with a licensed sewage disposal professional, abandoned one of the leach fields and permanently removed the manufactured homes from 18 sites connected to such leach field as well as 3 apartment units in the structure which also housed a leasing office, leaving 81 sites in operation.

Located in DeKalb County approximately 40 miles west of Naperville and southeast of Rockford. Cortland is known for its hometown living in a warm community atmosphere. Cortland is the third largest town in Illinois and projects its population to swell from 4,000 to more than 15,000 in the next decade.

The property offers:  

  • 2017 NOI - $187,000
  • Paved asphalt and concrete sidewalks
  • Two entry drives on newer chip & tar streets
  • Parking area lighting
  • 500’ frontage on Somonauk Road
  • Maintenance garage
  • Central mailbox kiosk
  • Private well and septic system

Why Buy This Property

Cortland Mobile Home Community, 81 Usable Homesites & 3 Park Owned Homes

Sold subject to a Minimum Bid of $515,000

CAP Rate at Min Bid 36% 78,821 Sq. Ft.– Well located at the corner of major thoroughfare Mobile Home Community

2017 NOI - $187,000

Cortland MHC is a diamond in the ruff. Located near DeKalb, Sycamore and Hickley Illinois, at the northwest corner of State Route 38 and Somonauk Road lead to the historically high occupancy of this community. It’s location next to a new townhome development raises the potential alternative uses in the future.

Property Location

Auction / Date / Time

Sealed Bid Auction
April 10, 2018 2:00 P.M. CDT

Offering Strategy

MINIMUM BID: $515,000

Inspection Dates

Inspections:  10:30 A. M. - March 13, 27, & April 3.  Please note: Inspections begin promptly.  Please give us a call at 312.278.0600 extension 101 in advance of the inspection to let us know you will be attending and to send you more information.

Auction Location

Sealed Bid Auction:  Bids are to be delivered either by email to or to the offices of:

Fine & Company LLC
747 Lake Cook Road, Suite 100W
Deerfield, IL 60015


Certified Funds To Bid : $40,000

Buyer's Premium (Buyer's Fee) : 8% of the high bid

Contact Person

  Fine And Company LLC
  Michael A.Fine, CCIM, CAI, AARE
  Illinois, United States

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Order Bidder's Information Packet

A Bidder's Information Packet is required to bid. The packet includes: auction and property information, title report, survey, real estate tax bill, local information, auction purchase and sale agreement, and terms of sale.

Bidder's Information Packets are available in PDF format for $30.00. To order your Packet or call us at 312.278.0600 ext. 101 or email us at 

Additional Information


Other Information

Broker Participation : Buyer's Agent participation is invited!
A 2% referral fee will be paid to th REALTOR®/Broker whose registered buyer closes on this property. Please refer to the Buyer Broker registration requirements in the Terms of Sale. Seller has provided a variable commission rate.

Licensing : Fine & Company LLC

Terms Of Sale : This auction is being conducted subject to the Terms of Sale and Purchase and Sales Agreement contained in the Bidder's Information Packet. 

Disclaimer : The Seller, Broker, and Auctioneer and their agents assume no liability for inaccuracies, errors, or omissions in the auction marketing materials, including the Bidder's Information Packet. All square footage, dimensions, real estate taxes, and common area fees, if any, are approximate. All materials are subject to inspection and verification by all parties relying on them. This offering is subject to prior sale and may be withdrawn, modified, or cancelled without notice at any time. This is not a solicitation or offering to residents of any state where this offering is prohibited by law.

We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap status, familial status or national origin or any other classes under state or local law or intention to make any such preference, limitation, or discrimination.

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