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Updated about 3 years ago on . Most recent reply

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Melissa Rios
  • Investor
  • Chicago, IL
17
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32
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Which Chicago buildings allow short-term rentals?

Melissa Rios
  • Investor
  • Chicago, IL
Posted

Hi, my spouse and I have looked at a variety of buildings for owner-occupant homes.  Thing is, we travel a lot (long periods of time!)  and one of the questions we always ask is whether a building allows rentals, specifically shorter than 1 year lease rental and/or shorter than 6 month rental.    Areas we are seeking:   Gold Coast, Loop, Old Town, Lincoln Park, would consider Wicker Park, Bucktown, Lakeview.

To be clear, we are not interested in Airbnb.  We just want to know that if we leave town for 3 months, we can sublet the unit to travelling nurses, or corporate travelers, etc.  For short-term rentals, shorter than 6 months, there are so few buildings out there allowing this.  Whereas, finding a building that allows a 6 month rental is not that difficult.   My question is:   do any of you out the in the BP universe know of any buildings in the areas above that allow lease terms shorter than 6 months?  

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4,104
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Jonathan Klemm
  • Contractor
  • Chicago, IL
2,501
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4,104
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Jonathan Klemm
  • Contractor
  • Chicago, IL
ModeratorReplied

@Melissa Rios - I personally don't have the building knowledge to know which buildings allow shorter-term rentals. I am sure it would be in each building's HOA by-laws but I am not aware of any source that aggregates that data.

Assuming you are referring to condo buildings, have you considered trying to find a 2-4 unit building in those areas, then if you are an owner occupant the CLTO (Chicago landlord-tenant ordinance) wouldn't apply and you could rent out as you please.

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