STR (Short term rentals) regulations condos

[Alex Na]

Hi everyone,

We are a business looking to invest in 6 properties in a condo located in Chicago for STR but it seems like there is a compliance for property managed building that prohibits it.

According to our research, we have not found a law that prohibits "vacation rentals" for less than 30 days "city-wide".
The property seems to meet the criterias for STR:
- Property is not included in the prohibited buildings

- Property is located on a ward which has no zoning restrictions

- Maximum 6 units is allowed for the property according to the laws

We are supposedly eligible through the chicago city quiz sharing housing eligibility.

Is there a Chicago city law that prohibits completely STR (less than 30 days) in condos more than 24+ units (except condo boards associations, HOA, etc..)?

Is there a law that prohibits STR for building that are managed through a property management company ? (It seems that it is an issue related to this and compliance)

Thank you.