All Forum Posts by: Chris Weichselbaum

I rented out one of the units of my two flat which was a duplex up plus 3 small bedrooms downstairs (4 rooms total). I rented it out similar to a hostel, each room was booked individual so I would often have four sets of guests sharing the common area.  Each room would book between 20-45$ a night depending on the season, I was consistently booked 20 days per month per room. The summer months I made around $3200 per month, winter was about $1600, after expenses.  Mortgage was $1540. My place was about a 12 minute walk, equal distance from the Belmont and Logan Square Blue Line stops, so easy ride from O Hare and walk able to the heart of Logan Square so the location was good for tourists.

It was a lot of fun to do, and made more money than I would have if I leased it out. Main reason I did it is because I was renovating my unit and needed a kitchen to use in the time being, and the apartment came fully furnished as the previous owner died. I don't do it anymore because it was too much work, instead I have a friend rent the unit for a flat rate, and he does the airbnb, he is doing well.