Short Term Rental-Famous person previous owner

[Mike Nelson]

If a home was previusly owned and lived in by a famous person, does it add much value?  In suburban chicago, if you bought a home owned by a famous gangster, politician, or businessman, does it add much value?  In Oak Park, we have had people like Ray Kroc, Ernest Hemingway, Bob Newhart, Sam Gianncana, Betty White.  I am assuming short-term rentals would be legal in the municipality.

[Michael Baum]

Hey @Mike Nelson, never assume anything about STR rules and regs.

Here is the STR rules for Oak Park - https://codelibrary.amlegal.com/codes/oakparkil/latest/oakpa...

I would call the city and make sure it is legal for a specific property.

Now regarding the famous person angle, sure it can add value to the property or as a STR, but for STR use, I would think you would need it to be in original condition with a lot of the furniture and knick-knacks that were owned by the famous person along with a bunch of photos etc featuring the famous person.

If you buy a place that has been totally redone but was owned by someone famous but has no features or things that were theirs, then I don't see it being a draw.