To AirBnB in Chicago or not to AirBnB in Chicago

[Tyler Huggins]

Hello all,

I just bought a condo down in Hyde Park and am moving from my current rental in a 1 bedroom apartment in Pilsen.  The place in Pilsen is pretty cool, on 18th, exposed brick, back patio, parking, and new appliances etc.  I think it is currently $100 under market value for rent at $1350/month.

The question is if I should negotiate with my landlord to manage the Pilsen location as a AirBnB unit?  I would need a 57% average occupancy rate at $90/night (estimated market value) per night to cover expenses (rent/wifi/utilities).  If I can get upwards of 70% occupancy it would cash flow around $360/month.  

Anybody know what the average occupancy rate is in Chicago? Pilsen?  How are the winter months?  Would you do it?

Thanks!