Short-term rentals (STRs) in Chicago, locally known as "shared housing," are legal but subject to strict regulations enforced by the City of Chicago. Hosts are required to register with the city and obtain a business license, complying with zoning laws and property inspections. Successful properties typically include urban apartments, particularly in neighborhoods popular with tourists, like the Loop and River North. Each unit rented must be the host's primary residence, limiting the market primarily to owners rather than investors operating multiple units. Chicago's STR market is heavily influenced by tourism, particularly given its status as a vibrant city with attractions like Millennium Park and numerous conventions, although there is also demand from business travelers. The Chicago Department of Business Affairs and Consumer Protection (BACP) oversees these regulations, with comprehensive guidelines available on their official website. For further details, visit the City of Chicago’s page on shared housing regulations at.
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