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STR1044
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612 S Loomis St APT 1F, Chicago, Illinois 60607
$
3400
Bedrooms
3
Utilities Included
No
Bathrooms
2
Furnished
No
Available to Lease on
July 1 or August 1
Property Type
Apartment
SQFT
1150
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Key metrics
Rent
$
3,400
Monthly Estimated Profit?
$
2,166
Annual Estimated Profit?
$
26,000
Acquisition Fee
$
2,500
Security Deposit
$
5,100
Average Daily Rate
$
$326
Occupancy
56%
Annual Revenue
$
66,800
Key Features

This recently remodeled 3-bedroom, 2-bathroom apartment offers 1,150 sq ft of well-designed living space at 612 S Loomis St in Chicago, Illinois. Situated near UIC, RUSH, and the Blue Line, the location provides excellent access to local amenities and transportation. The property is highly accommodating to corporate housing setups, allowing for subleasing and welcoming multi-year corporate leases.

The interior boasts high-end finishes and large windows that fill the space with natural light. Guests will appreciate the convenience of an in-unit washer and dryer, along with extra storage available within the building. The unit is unfurnished, making it a blank canvas for your preferred design and setup.

Property Features

  • 3 Bedrooms / 2 Bathrooms: A comfortable 1,150 sq ft layout that has been recently remodeled.
  • Modern Upgrades: Features high-end finishes and large windows throughout the apartment.
  • Convenient Amenities: Includes an in-apartment washer and dryer, plus extra storage space in the building.
  • Prime Location: Situated close to UIC, RUSH, and the Blue Line for easy commuting and access.
  • Corporate Lease Friendly: Open to multi-year corporate leases and explicitly allows subleasing.
  • Lease Terms: A deposit of 1.5 months' rent is required, and tenants are responsible for gas and electric utilities.

STR Regulations Summary:  

Status:
Mixed

View Regulations Here

Chicago, Illinois has specific regulations for non-owner occupied short-term rentals (STRs) as of February 2025:Licensing Requirements:

  • Non-owner occupied STRs are classified as vacation rentals in Chicago.
  • Operators must obtain a Vacation Rental License from the city4.
  • The license application process involves property inspection, zoning compliance verification, and providing contact information for a responsible agent4.

Location Restrictions:

  • In buildings with fewer than five units, vacation rentals are generally not allowed unless they are the host's primary residence7.
  • Buildings with five or more units may have more flexibility for non-owner occupied STRs7.

Operational Requirements:

  • Properties must pass inspections to ensure compliance with health, safety, and building code requirements4.
  • Operators must secure commercial general liability insurance with a minimum coverage of $1,000,0003.
  • A local contact person must be designated for prompt issue resolution4.
  • Occupancy limits are imposed based on property size and number of bedrooms4.

Taxes and Fees:

  • Hosts are responsible for collecting and remitting certain taxes directly to Chicago4.
  • License fees vary, with an annual fee of $250 per unit as of 20225.

Compliance and Renewal:

  • Licenses typically need to be renewed annually5.
  • Ongoing compliance with Chicago's ordinances regarding noise, occupancy, and safety is mandatory2

Property Location

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