Downtown Chicago Hotels Offer Condo Option

Chicago condos are getting a new little brother - the condo hotel. Popular
in cities with lots
of tourists like Miami and New York, the condo hotel allows people to
purchase a room in a hotel. It means they always have a reservation, and
if someone else stays there, they reap the benefits.

Condo hotels are being introduced at Hotel 71, Trump International Hotel &
Tower, the Hotel Blake, Aldens Hotel, and the Elysian.

Chicago hotel condos allow people to purchase a second home but spare them
the worries of maintenance and cleaning. All that convenience comes with a
price though. The units themselves can be very expensive, and daily fees
may apply on top of that if you actually choose to stay in your own unit.
How often you may choose to use the room is also restricted. For example,
at the Elysian, there is a room fee of $75 per night, and the owner has
the option of staying in their room a grand total of 14, 35 or 90 nights
in any given year.

The Blake has 100 condo room units, and prices start at $250,000. The
Trump building, which is still under construction, will have 286
hotel-condos, priced from $815,000 to $3.1 million. 70% have already been
sold.