Chicago Airbnb Property Management
We offer complete Airbnb hosting services for the Chicago area. If you have an investment property or are looking for one, we will get you on the right path.
The current median home value in Chicago is about $223k to $299k. The home values have gone up in Chicago over 8.5% in the last twelve months, and Zillow predicts they will continue to rise another 3.2% by the end of 2018. In Chicago the median rent price is $1,795, per month, which is higher than the median of $1,695 for the metro area. These continue to rise year over year.
Since we know that mortgage delinquency is the first step in the foreclosure process, we can predict how the market is doing. As of 2017, the percent of delinquent mortgages in Chicago is almost zero, which is great. As far as home values go, those continue to rise, and now the percent of Chicago homeowners underwater on a mortgage is 0.2%, which is relatively low and comparable to the national average.
Why Buy Chicago Real Estate for Investments?
This graph shows a nice upward path for rents. For rental properties, this is a nice signal. To keep our daily guest pricing competitive, we use Airbnbs automated pricing system as a starting point, then we optimize pricing based on your homes bookings. So if your rental property has availability, we will check pricing in the area so it gets booked. We utilize pricing data services to make sure your home is always getting the best rates. We also coordinate with events in the area to make sure you are getting more than a typical booking.
Chicago has some great neighborhoods and average home values:
- Bridgeport $293,200
- Pilsen $254,500
- Heart of Chicago $216,500
- McKinley Park $201,600
- Tri-Taylor $200,100
- Brighton Park $170,200
- Archer Heights $163,800
Want to see the area? Here is a guide to Chicago: Official Visitor Guide
Chicago has a huge visitor population in the summer, and largely business travelers in the winter seasons. Make sure you are getting the most from your property.
Why Chicago is a Great Place to Live and Invest
Investors find many reasons why buying property in Chicago makes great sense. The diverse economy means that the city will weather any storms coming its way easily. The city is home to many great universities along with top-notch high schools. It is incredibly easy to get around in Chicago. That is especially great news when you consider how many outstanding attractions call the Windy City home. The best way to invest in Chicago is by buying an Airbnb property and allowing our Airbnb property management company to do all the hard work.
Chicago has one of the most diverse economies in the world. Businesses in Chicago generate over $561 billion in revenue annually. Over 4 million employees work in the Chicago region. Some of them are employed at the more than 30 Fortune 500 companies in Chicago and its suburbs. Chicago’s economy is built to withstand tough times because no industry sector has more than 14 percent of the economy.
Some of the largest employers in Chicago include::
- Real estate firm Baird & Warner
- Retailer Abt Electronics
- Health care provider Rush-Copley Medical Center
- Transportation provider Coyote Logistics
- Hospitality provide Hyatt Hotels
- Health Care provider Cancer Treatment Centers of America
- Real estate firm JLL
- Lawyer Sidley Austin
- Restaurant Lou Malnati’s Pizzeria (delicious!)
- Financial provider Discover Financial Services
Education in Chicago
Chicago is home to many top universities and colleges. DePaul University is the largest Catholic university in the nation. The Illinois Institute of Technology is well-known for its top architectural program along with others. Loyola University has a well-recognized business school. The University of Chicago is one of the best liberal arts colleges in the world.
U.S. News and World Report ranked Chicago’s Northside College Preparatory High School as the top high school in Illinois. They also placed it on their list of top 50 high schools in the United States. Furthermore, the newspaper gave top marks to Payton College Preparatory and to Jones College Prep High School.
Chicago’s Public Transportation
It is easy to get to and around Chicago with or without a car. O’Hare is the second busiest airport in the United States. This airport has direct service to 153 domestic destinations along with 55 international destinations. J.D. Power and Associates ranked Chicago’s Midway International Airport as giving the best customer service for a medium-sized airport in the United States.
The Chicago Transit Authority is the second largest in the United States. It operates eight train routes connecting Chicago. They also operate over 100 bus routes throughout the area. Metro Rail makes it convenient to get to Chicago from the outlying suburbs.
Taxis are plentiful in this city, and they are required to take credit cards under Chicago’s laws. Water taxis are not only a great way to get around the city, but they also offer a fun way to go sightseeing.
The city also offers a bikeshare program that is very popular. Called Divvy, the program currently offers 750 bikes at 75 stations throughout Chicago. Plans have been laid to expand the program to over 6,200 bikes at 620 stations by the end of 2017.
Chicago’s Top Attractions
There are many fun things to do in Chicago. The city is home to more than 10 art museums including the Art Institute of Chicago that is the second largest art museum in the United States. The city is also home to more than five architectural museums including the Robie House designed by Frank Lloyd Wright. Children enjoy playing at three children’s museums including the Children’s Museum of Chicago that is one of the oldest in the United States. Diverse subjects like Jane Addams and the Chicago Riverfront are featured at the city’s 14 history museums.
Cultural events abound in Chicago. These events held throughout the city pay tribute to the diversity found in Chicago where over 100 languages are spoken. People have been coming together to celebrate the city’s diversity at a picnic sponsored by the Chicago Cultural Alliance for more than 100 years. Seeing the Chicago River dyed green each year for St. Patrick’s Day is an event you will not forget.
There are many reasons that it makes sense to buy an Airbnb property in Chicago. Nearly 40 million people come to this Midwest city annually, so it is easy to fill dates. In addition, you can stay in the property when you visit the Windy City. Eliminate the hassle of trying to manage the property yourself by using our Airbnb property management services.