Champaign IL (University of Illinois) Airbnb

Champaign, Illinois
Out of State Investing
2yFollow

Champaign IL (University of Illinois) Airbnb

Haemi Jung
Member since 2023 · 9 posts · 3 votes

I'm considering investing in a rental property near the University of Illinois Urbana-Champaign in Champaign. 

I'd like to hear from anyone with experience in this market. What are the potential pros and cons of investing near universities?

Any experiences in Airbnb vs. long-term rental?

1Reply
52 views

Most Popular Reply

Travis TimmonsPro Member
Rental Property Investor · Ellsworth, ME · Member since 2021 · 1k+ posts · 2k+ votes
2y

I've kicked the tires on mid term rentals in Champaign-Urbana on account of growing up in the area. The Carle Clinic is one of the only level 1 trauma center hospitals in the state outside of Chicago metro, the university is a great furnished tenant source, and Champaign county is 1 of the only counties in IL that is growing in population. 

I forget which (Champaign or Urbana), but one is very restrictive on STRs...just make sure you are aware of zoning and restrictions. I like the mid term - short term hybrid model there. Take my advice for what it is worth - I ultimately decided not to invest there. I just don't see the appreciation upside there compared to other markets that I was considering. 

2Reply
See this reply in the discussion

4 Replies

Jump to latestLatest
  • J Leman
    Real Estate Agent · Champaign · Member since 2019 · 9 posts · 4 votes
    2y

    Hey Haemi... I am happy to help you with long or short term (airbnb) in Champaign IL. I own both myself and I also have helped many out of area investors find properties that work what you are considering

    1Reply
  • Jonathan KlemmBusiness Member
    Moderator
    Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes
    2y

    Hi @Haemi Jung - What's your draw to Champaign as opposed to your current market?

    I can't speak to the specifics of AirBnB/Short-term rentals in Champaign, but I do have one up north in Chicago.  Regulation has slowed the market and made it harder to be an operator.

    I've never operated my Airbnb to its maximum efficiency because of the time it takes.  A successful Airbnb is truly a BUSINESS and should be operated as one. If you don't have the vision to have MANY airbnbs in Champaign I'd suggest figuring out a strategy you have a long term big vision.

    Pros:  High cash flow (if done right), typically properties are oddly better-taken care of, sexy

    Cons:  Management/system intensive, always on call, regulation can change things instantly  

    [email protected]
    Quality Builders4.966 Reviews
    WebsiteView Page
    1Reply
  • Travis TimmonsPro Member
    Rental Property Investor · Ellsworth, ME · Member since 2021 · 1k+ posts · 2k+ votes
    2y

    I've kicked the tires on mid term rentals in Champaign-Urbana on account of growing up in the area. The Carle Clinic is one of the only level 1 trauma center hospitals in the state outside of Chicago metro, the university is a great furnished tenant source, and Champaign county is 1 of the only counties in IL that is growing in population. 

    I forget which (Champaign or Urbana), but one is very restrictive on STRs...just make sure you are aware of zoning and restrictions. I like the mid term - short term hybrid model there. Take my advice for what it is worth - I ultimately decided not to invest there. I just don't see the appreciation upside there compared to other markets that I was considering. 

    2Reply
  • Mariah PiercePro Member
    Chicago, IL · Member since 2022 · 33 posts · 12 votes
    2y

    Hi Haemi, I have been doing short and medium term rentals in Champaign since 2020 and it has been very steady. If you need some help getting started or managing, let me know. Feel free to connect if you have specific questions. 

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free