Equity LifeStyle Properties buys Lake Village park

BUYER: MHC Lake Village LLC (MHC Operating Limited Partnership), Chicago

SELLER: Hometown Lake Village LP

PROPERTY: 400 Lake Drive and 400 Village Drive, Nokomis

PRICE: $23.77 million

PREVIOUS PRICE: $11.5 million, October 1997

PLANS, DESCRIPTION: Chicago-based real estate investment trust Equity LifeStyle Properties purchased the 238-site Lake Village mobile home park for $23.77 million. The price equated to $99,875 per site.

The senior-restricted community features a heated pool, billiard room, media center, clubhouse, shuffleboard courts, putting green and fitness center. Lake Village was built in 1968.

The property was purchased as part of Equity Lifestyle Properties' acquisition of 76 communities from Hometown America. The first 39 communities closed in July and the remaining communities were scheduled to all close before the end of November.

Equity LifeStyle Properties has controlling interest in and operates a portfolio of more than 365 communities in 32 states and British Columbia.