The renovation improved the home's condition with updated flooring, interior paint, kitchen and bathroom updates, and repairs needed to make the home functional and appealing.

Our main interests are multi-family and mixed-use commercial properties, especially if the commercial space has a commercial kitchen (restaurants, bars, cafes, etc.).We're also prepared to put in sweat equity in the form of property management, at least to get started.

The total project cost through opening is $800,000, broken out as follows:-$150,000 white box-$160,000 liquor license-$110,000 sprinkler system and new hood-$106,000 kitchen and bar equipment-$140,000 fit out-$40,000 tables and chairs-$90,000 critical-path items to openingI was already prepared to invest $200,000 towards fit out for a proven operator.

Renovations included updated flooring, kitchen and bathroom remodels, modern fixtures, paint, and improved curb appeal.

Improvements included new flooring, upgraded kitchen and bathrooms, modern finishes, and enhanced curb appeal.

The home received a full transformation including updated flooring, remodeled kitchen and bathrooms, fresh paint, improved lighting, and exterior enhancements that elevated curb appeal.

The demand is usually steady year-round in Chicago for that group.That said, here’s how I’d weigh it:If you go MTR:You’ll need to furnish it properly — not fancy, but turnkey: queen bed in each room, blackout curtains, comfy couch, smart TV, solid Wi-Fi, a stocked kitchen (pots/pans, utensils, coffee maker, toaster), and a simple desk setup.Expect about $4K–$6K upfront to get it guest-ready if you’re starting from scratch.Cleaning and turnover management can be automated (Turno app or a local cleaner), but there’s still some coordination involved.Since you’re near a hospital, list on both Furnished Finder and Airbnb (30+ night stays) — that combo usually keeps you booked.If you go LTR instead:You’ll save yourself the time and mental load of setting up a new system while adjusting to newborn life.Even if the rent’s lower, you’ll get steady income and less stress, which might be worth it right now.Winter leasing in Chicago:Yeah, it’s slower — especially December through February — but MTRs tied to hospitals stay active because medical contracts don’t follow the same seasonality.If this were me?

Maybe the numbers would work for someone else, but my rental standards are a little higher (eg. for me, drop ceilings are alright in a finished basement, not an upstairs bathroom or kitchen.) 

New floors, new paint on everything, new kitchen and bathroom, all new windows.

High-traffic areas like kitchens, hallways, and living rooms sometimes need touch-ups more frequently, while bedrooms can usually go a bit longer.We’ve found that keeping the space fresh not only maintains the property’s appeal but also helps with guest satisfaction and reviews.