Article

How about owning a five-star home at a premier hotel and enjoying rent revenues when you are not occupying it? The condo hotels have added a new dimension in the choices of real estate ownership.

In Chicago, condo hotels have sparked off a new trend! The moneyed investors in the lookout for a luxurious, easy to manage investment real estate are looking no further than Chicago condo hotels. They are plush and expensive. They offer services and amenities that can be available only at the world’s finest five-star hotels. Even the ‘luxury’ Chicago condos can never be as luxurious as Chicago condo hotels. And why not? These unique Chicago properties are associated with such brand names as Hilton, Four Seasons, Ritz Carlton, Hyatt or Trump. These high end condo units are housed in some of these upscale hotels; they are spacious and most artistically decorated.

Despite being a comparatively new concept, and despite being exorbitantly priced, the Chicago condo hotels have sparked off huge interests among the home buyers. These properties are not marketed as regular residences---they are used mostly as vacation homes. However, there are many buyers, who are attracted to the income potentials of these properties and own them simply to add value to their real estate investment portfolio.

So how do the Chicago condo hotels earn money for their owners? Chicago Condo Hotels keep on generating revenues for their owners. This considerably reduces the costs of ownership, which is rather huge. By participating in rental programs, the owners can use their units as vacation rentals. These units can be rented by the vacationers, when the owner of the unit is not occupying it. The units can be rented for short or long period.

These Chicago condo hotels offer completely hassle free ownership of the properties. It is the brand name of the hotel chains that draw the vacationers to these properties and the units are rented out to the vacationers through the hotel reservation system. In addition to that the owners don’t have to bother about the maintenance of their condo units---this aspect is also taken care of by the hotel management. The guests staying at the units are also looked after by the hotel.

However, the revenues are shared between the unit owners and the hotel. But the owner enjoys the full ownership of the unit and can resell his unit to his/her liking.

Chicago Condo Hotels appreciate at a higher rate than regular condo units, and this is attracting more and more investors to this sector. If you plan to buy a second home or vacation home, Chicago condo hotels can really add to your asset value. It comes as no surprise then as most of the Chicago condo hotels are sold out even before their construction is over.

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