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Ind. RV Park Going On Auction Block June 10

April 22, 2015 by   - () Comments Off on Ind. RV Park Going On Auction Block June 10

Madison Hawk LLC, a national real estate firm, announced it will conduct a real estate auction for two premium investment properties in northern Indiana June 10.

The sale offers Poplars Mobile Home Park, a 57-space mobile home community in Elkhart, Ind., and the Lake Holiday Camp Resort, a 676-lot RV park located in DeMotte, Ind. The properties will be offered separately.

The auction will be held at the Radisson Hotel at The Star Plaza located at 800 E. 81st Avenue, Merrillville, Ind. Registration begins at 11 a.m. (CDT); the auction commences at noonAn initial deposit of $65,000 for the DeMotte property are required to bid.

“The owner is retiring due to health reasons and by auctioning the businesses he will create a date certain in which the properties will be sold while providing buyers the chance to acquire them at auction pricing,” said Jamie Cote, managing director for Madison Hawk. “These are excellent investment opportunities for an astute buyer to add two stable assets with excellent cash flow to their portfolio.”

Lake Holiday Camp Resort features 676 RV lots, of which 624 have been sold. The auction sale will include the 52 remaining lots, all commons areas, maintenance equipment, 10 park model RVs and all personal property associated with the operation of the business.  In 2014, the gross income of the property was over $750,000 and the net operating income was $121,000. The suggested opening bid is $650,000.

The scenic camp resort includes a large lake, two swimming pools, a recreation center, tennis and basketball courts, a playground and gift shop/sales office. The property has undergone significant capital improvements over the past two summers.

Lake Holiday Camp Resort is located at the intersection of Interstate 65 and S.R. 10 and is 60 miles south of Chicago and 55 miles north of Lafayette, Ind. Lake Holiday draws guests from the Midwest and beyond with most of its owners’ primary residences situated within 75 miles.

On-site inspections are required to bid.  Viewing dates for each of the properties are scheduled for Wednesdays. May 6, 13 and 27 and June 3.   The Lake Holiday Camp Resort can be viewed at 2 p.m. (CDT).

For additional information, to order a due-diligence packet or to make an appointment to inspect the properties, call 800-547-1045 or visit http://www.madisonhawk.com/auctions/mhc-rvpark.

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