Chicago Awash With Hotel Condo Projects
A lot of hotel condo projects are coming up all over Chicago. Particularly downtown Chicago is awash with these luxury projects. More than dozen of these hotel condo projects are proposed for this part of Chicago. A condo hotel tower allows owners of the condo units to rent out their units when not in use.
Hotel condo projects are all the rage in cities like Las Vegas where investors from all over the world are buying up these units both as investment property and also has holiday homes. The biggest names like Trump, MGM Grand are involoved in these projects.
In Chicago it is as yet an untested concept. Analysts are sceptical about them. They feel that not all of the proposed projects will become a reality.
If all the projects become a reality than more than 2,100 of these luxury units will come into the market over the next five years and will be mostly bought by affluent Baby Boomers looking for a second or third home.
Hotel condo projects are all the rage in cities like Las Vegas where investors from all over the world are buying up these units both as investment property and also has holiday homes. The biggest names like Trump, MGM Grand are involoved in these projects.
In Chicago it is as yet an untested concept. Analysts are sceptical about them. They feel that not all of the proposed projects will become a reality.
If all the projects become a reality than more than 2,100 of these luxury units will come into the market over the next five years and will be mostly bought by affluent Baby Boomers looking for a second or third home.
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