Does anyone own a rental unit here and if so how is it doing?

You wouldn't believe it. Tremendous. You're gonna win so much, you're gonna be tired of winning. A lot of people are saying that it's the best market they've ever seen.

Hey @Arwin Nassiri, don't listen to @Gerald Pitts. It appears to be a joke. I see zero rentals in Trump Tower on VRBO. It is hard to tell on AirBNB, but the average nightly rate in the area is under $100 a night. The lowest priced condo in Trump Tower is just over $500,000 so I don't see how that would pencil out as profitable. HOA fees alone on that condo are more than my mortgage on our lake house.

@Arwin Nassiri - Are you looking to buy or rent a unit in Trump tower? I have to imagine there are tons of better places in Chicago to invest in....... What's your angle with having a rental?

I appreciate the insight and transparency!

Well I pulled the nightly rate from VRBO and AirBNB, not hotels.com. They show downtown rates around $100 a night give or take. These would be the rates for competing units in other buildings. You can't just cherry pick some data and ignore the rest. People will hunt in an area they want to stay, not just the Trump Tower. So take a look at all the units of the size you are interested in, in all the other buildings downtown. I am not sure I can be of help on this. This seems like a less than stellar investment IMHO.

Hey @Michael Baum Are you looking at the Trump Tower in Chicago? Here is the link to the hotels.com page for the hotel. Current summertime rates start at $700+: https://www.hotels.com/search.... Here is a link that shows current listings for sale. The lowest current listing is priced at $250k, however a similar listing closed last week at $150k. I’m currently working with an agent in the Chicago area and it seems as if several listings have been sold this year at around $150k: https://www.chicagocondofinder...

Hey @Arwin Nassiri. You must be seeing something I am not. I don't see any listings for 120k. I also don't see anything at 300 a night in the area at all. Whatever is going on doesn't make sense to me. I do see the HOA fees at 2500+ a month for a 900 sqft 1 bedroom. So I can't really provide any kind of opinion if the data I see is wrong.

Hey @Michael Baum Thank you for your response! So the reason there aren’t any units listed on Airbnb or VRBO is because most of the rentals are being rented out as a part of the hotel rental program. Initially what caught my attention about this place is that units are actually starting at about $120,000, one unit just sold for $150,000. Along with this, these rooms go for $300+ a night. I was able to get ahold of the financials for one particular unit, and even though it was renting out at a high rate, almost all the revenue was being wiped away by HOA and fees. What I’m curious about is that you are able to not be apart of the hotel rental program and rent out units on your own which will remove a majority of the fees. However, you must keep the rates the same as the hotel…so I have a hard time believing people are going to book a $300+ night listing on airbnb when they could go directly to the hotel website. Would love to hear your thoughts on this. Thanks again!

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