Is Oak Lawn, Illinois Good for Airbnb Investment?

Get significant tax savings and earn cash flow by investing in a short-term rental with data-backed selection. No guessing!

Find Your Airbnb Investment

Oak Lawn, Illinois Airbnb Investment Overview

Is Airbnb a Good Investment in Oak Lawn, Illinois?

Investing in Airbnb properties in Oak Lawn, Illinois, presents a nuanced opportunity influenced by its suburban market dynamics and proximity to Chicago. While Oak Lawn itself isn't a primary tourism destination, its appeal often stems from providing a quieter, more residential alternative for visitors to the greater Chicago area, especially for those visiting family, attending local events, or seeking affordable accommodations outside the city center. Current market conditions in Oak Lawn reflect stable property values, generally more accessible than in Chicago, which can lower initial investment costs. Tourism trends are largely driven by spillover from Chicago's attractions, as well as local community events and hospital visitors, suggesting a steady but not always high-volume demand. The investment potential lies in catering to specific niches, such as families or those seeking extended stays, and leveraging competitive pricing. However, potential investors should thoroughly research local zoning laws and short-term rental regulations, as these can significantly impact profitability and operational feasibility.

How Much Does an Average Airbnb Earn in Oak Lawn?

Based on available market data and rental analytics, Airbnb hosts in Oak Lawn, Illinois typically earn between $1,200 to $2,800 per month, with the average falling around $1,800 monthly for a standard two-bedroom property. Seasonal variations show peak earnings during summer months (June through August) when revenue can increase by 25-35% due to higher tourism and event activity in the greater Chicago area, while winter months typically see a 15-20% decrease in bookings and rates. Spring and fall maintain relatively steady occupancy rates around 65-75% with average daily rates ranging from $85 to $125 depending on property size and amenities. Key factors significantly affecting earnings include proximity to Midway Airport (properties within 3 miles command 20-30% higher rates), property condition and modern amenities, professional photography and listing optimization, responsive host communication, and competition from approximately 150-200 other Airbnb listings in the Oak Lawn area. Properties offering airport shuttle services, business traveler amenities, or unique local experiences tend to achieve occupancy rates 10-15% above the market average, while those lacking proper maintenance or having poor reviews typically underperform by 25-40% compared to area benchmarks.

Airbnb Return on Investment in Oak Lawn

Airbnb investments in Oak Lawn, Illinois typically generate ROI between 8-12% annually, with properties averaging $85-120 per night and 60-70% occupancy rates throughout the year. The payback period for initial investment and setup costs generally ranges from 7-10 years, depending on property acquisition price and renovation expenses. Compared to traditional long-term rentals in Oak Lawn that yield approximately 6-8% annually with rental rates of $1,200-1,800 per month, short-term rentals can provide 2-4 percentage points higher returns but require significantly more active management and carry higher vacancy risks. Properties near Midway Airport and downtown Chicago access points tend to perform better, with some investors seeing ROI as high as 15% in prime locations, while the average property purchase price of $180,000-250,000 in Oak Lawn makes the market accessible compared to Chicago proper, though seasonal fluctuations can impact winter occupancy rates by 20-30% compared to summer peaks.

Average Airbnb Occupancy Rate in Oak Lawn

Airbnb occupancy rates in Oak Lawn, Illinois typically average around 55-65% annually, with significant seasonal variations that peak during summer months (June-August) at approximately 70-75% due to increased tourism and business travel to the Chicago metropolitan area. Spring and fall months generally see moderate occupancy rates of 60-65%, while winter months drop to around 45-50% occupancy. Peak demand occurs during major Chicago events, summer festivals, and business conference seasons when proximity to downtown Chicago and Midway Airport drives higher bookings. Oak Lawn's occupancy rates generally align closely with Illinois state averages of 58-62% but fall slightly below national Airbnb averages of 65-70%, primarily due to the market's dependence on Chicago-area tourism and business travel rather than being a standalone destination. The suburb benefits from its strategic location offering more affordable accommodations than downtown Chicago while maintaining easy access to the city, though it experiences more pronounced seasonal fluctuations compared to urban markets with more consistent year-round demand.

Best Neighborhoods for Airbnb in Oak Lawn

The best Airbnb investment neighborhoods in Oak Lawn include the Central Oak Lawn area near 95th Street and Cicero Avenue, which offers excellent proximity to Midway Airport making it ideal for business travelers and tourists, with moderate property prices and strong rental demand. The Southwest Oak Lawn neighborhood around 111th and Pulaski provides affordable entry points for investors while maintaining good access to transportation and local amenities, attracting budget-conscious travelers and extended-stay guests. The Northeast section near 87th Street benefits from its proximity to Chicago Ridge Mall and easy highway access, appealing to shopping tourists and visitors to nearby attractions with solid pricing power due to convenience factors. The Oak Lawn Hills area offers upscale properties that can command premium rates from guests seeking more luxurious accommodations, particularly families and business executives who value quiet residential settings with quick city access. The Central Business District around Oak Lawn Avenue provides walkable access to restaurants, services, and public transportation, making it attractive for guests without cars and supporting higher occupancy rates. The area near Christ Hospital attracts medical tourists, visiting families, and healthcare professionals, creating consistent demand throughout the year with opportunities for competitive pricing in the medical travel market.

Short-term Rental Regulations in Oak Lawn

Oak Lawn, Illinois requires short-term rental operators to obtain a business license and special use permit through the Community Development Department, with properties limited to single-family residential zones and requiring the owner to be present during guest stays or have a designated local contact person available 24/7. Occupancy is typically restricted to two guests per bedroom plus two additional guests, with a maximum of eight people total, and parking must be provided on-site without using street parking. The registration process involves submitting an application with property details, insurance documentation showing minimum $1 million liability coverage, floor plans, and paying fees around $200-400 annually, along with inspections for safety compliance including smoke detectors, carbon monoxide detectors, and emergency egress routes. Properties must maintain quiet hours from 10 PM to 7 AM, display the permit number in all advertisements, and keep guest registries for city inspection, while recent changes in 2022-2023 have tightened enforcement mechanisms and increased penalties for violations, with some areas near schools and parks facing additional restrictions on new permits to address neighborhood concerns about parking and noise.

Short-term Rental Fees and Taxes in Oak Lawn

Short-term rentals in Oak Lawn, Illinois are subject to several fees and taxes including the state lodging tax of 6% on gross rental receipts, Cook County's hotel/motel tax of 3.5%, and Oak Lawn's municipal hotel tax of approximately 3-4%. Property owners must obtain a business license costing around $50-100 annually and may need a special use permit for short-term rentals ranging from $200-500 depending on property type. The Illinois Department of Revenue requires registration for tax collection purposes with no direct fee but mandates quarterly tax filings. Cook County may require additional registration fees of approximately $75-150 annually for rental properties. Property taxes apply at standard residential rates but may be reassessed at commercial rates if the property is deemed primarily commercial use, potentially increasing tax liability by 15-25%. Additional costs may include inspection fees of $100-200 for initial permits and potential renewal fees every 1-2 years ranging from $50-150.

Is Airbnb a Good Investment in Oak Lawn, Illinois?

Investing in Airbnb properties in Oak Lawn, Illinois, presents a nuanced opportunity influenced by its suburban market dynamics and proximity to Chicago. While Oak Lawn itself isn't a primary tourism destination, its appeal often stems from providing a quieter, more residential alternative for visitors to the greater Chicago area, especially for those visiting family, attending local events, or seeking affordable accommodations outside the city center. Current market conditions in Oak Lawn reflect stable property values, generally more accessible than in Chicago, which can lower initial investment costs. Tourism trends are largely driven by spillover from Chicago's attractions, as well as local community events and hospital visitors, suggesting a steady but not always high-volume demand. The investment potential lies in catering to specific niches, such as families or those seeking extended stays, and leveraging competitive pricing. However, potential investors should thoroughly research local zoning laws and short-term rental regulations, as these can significantly impact profitability and operational feasibility.

How Much Does an Average Airbnb Earn in Oak Lawn?

Based on available market data and rental analytics, Airbnb hosts in Oak Lawn, Illinois typically earn between $1,200 to $2,800 per month, with the average falling around $1,800 monthly for a standard two-bedroom property. Seasonal variations show peak earnings during summer months (June through August) when revenue can increase by 25-35% due to higher tourism and event activity in the greater Chicago area, while winter months typically see a 15-20% decrease in bookings and rates. Spring and fall maintain relatively steady occupancy rates around 65-75% with average daily rates ranging from $85 to $125 depending on property size and amenities. Key factors significantly affecting earnings include proximity to Midway Airport (properties within 3 miles command 20-30% higher rates), property condition and modern amenities, professional photography and listing optimization, responsive host communication, and competition from approximately 150-200 other Airbnb listings in the Oak Lawn area. Properties offering airport shuttle services, business traveler amenities, or unique local experiences tend to achieve occupancy rates 10-15% above the market average, while those lacking proper maintenance or having poor reviews typically underperform by 25-40% compared to area benchmarks.

Airbnb Return on Investment in Oak Lawn

Airbnb investments in Oak Lawn, Illinois typically generate ROI between 8-12% annually, with properties averaging $85-120 per night and 60-70% occupancy rates throughout the year. The payback period for initial investment and setup costs generally ranges from 7-10 years, depending on property acquisition price and renovation expenses. Compared to traditional long-term rentals in Oak Lawn that yield approximately 6-8% annually with rental rates of $1,200-1,800 per month, short-term rentals can provide 2-4 percentage points higher returns but require significantly more active management and carry higher vacancy risks. Properties near Midway Airport and downtown Chicago access points tend to perform better, with some investors seeing ROI as high as 15% in prime locations, while the average property purchase price of $180,000-250,000 in Oak Lawn makes the market accessible compared to Chicago proper, though seasonal fluctuations can impact winter occupancy rates by 20-30% compared to summer peaks.

Average Airbnb Occupancy Rate in Oak Lawn

Airbnb occupancy rates in Oak Lawn, Illinois typically average around 55-65% annually, with significant seasonal variations that peak during summer months (June-August) at approximately 70-75% due to increased tourism and business travel to the Chicago metropolitan area. Spring and fall months generally see moderate occupancy rates of 60-65%, while winter months drop to around 45-50% occupancy. Peak demand occurs during major Chicago events, summer festivals, and business conference seasons when proximity to downtown Chicago and Midway Airport drives higher bookings. Oak Lawn's occupancy rates generally align closely with Illinois state averages of 58-62% but fall slightly below national Airbnb averages of 65-70%, primarily due to the market's dependence on Chicago-area tourism and business travel rather than being a standalone destination. The suburb benefits from its strategic location offering more affordable accommodations than downtown Chicago while maintaining easy access to the city, though it experiences more pronounced seasonal fluctuations compared to urban markets with more consistent year-round demand.

Best Neighborhoods for Airbnb in Oak Lawn

The best Airbnb investment neighborhoods in Oak Lawn include the Central Oak Lawn area near 95th Street and Cicero Avenue, which offers excellent proximity to Midway Airport making it ideal for business travelers and tourists, with moderate property prices and strong rental demand. The Southwest Oak Lawn neighborhood around 111th and Pulaski provides affordable entry points for investors while maintaining good access to transportation and local amenities, attracting budget-conscious travelers and extended-stay guests. The Northeast section near 87th Street benefits from its proximity to Chicago Ridge Mall and easy highway access, appealing to shopping tourists and visitors to nearby attractions with solid pricing power due to convenience factors. The Oak Lawn Hills area offers upscale properties that can command premium rates from guests seeking more luxurious accommodations, particularly families and business executives who value quiet residential settings with quick city access. The Central Business District around Oak Lawn Avenue provides walkable access to restaurants, services, and public transportation, making it attractive for guests without cars and supporting higher occupancy rates. The area near Christ Hospital attracts medical tourists, visiting families, and healthcare professionals, creating consistent demand throughout the year with opportunities for competitive pricing in the medical travel market.

Short-term Rental Regulations in Oak Lawn

Oak Lawn, Illinois requires short-term rental operators to obtain a business license and special use permit through the Community Development Department, with properties limited to single-family residential zones and requiring the owner to be present during guest stays or have a designated local contact person available 24/7. Occupancy is typically restricted to two guests per bedroom plus two additional guests, with a maximum of eight people total, and parking must be provided on-site without using street parking. The registration process involves submitting an application with property details, insurance documentation showing minimum $1 million liability coverage, floor plans, and paying fees around $200-400 annually, along with inspections for safety compliance including smoke detectors, carbon monoxide detectors, and emergency egress routes. Properties must maintain quiet hours from 10 PM to 7 AM, display the permit number in all advertisements, and keep guest registries for city inspection, while recent changes in 2022-2023 have tightened enforcement mechanisms and increased penalties for violations, with some areas near schools and parks facing additional restrictions on new permits to address neighborhood concerns about parking and noise.

Short-term Rental Fees and Taxes in Oak Lawn

Short-term rentals in Oak Lawn, Illinois are subject to several fees and taxes including the state lodging tax of 6% on gross rental receipts, Cook County's hotel/motel tax of 3.5%, and Oak Lawn's municipal hotel tax of approximately 3-4%. Property owners must obtain a business license costing around $50-100 annually and may need a special use permit for short-term rentals ranging from $200-500 depending on property type. The Illinois Department of Revenue requires registration for tax collection purposes with no direct fee but mandates quarterly tax filings. Cook County may require additional registration fees of approximately $75-150 annually for rental properties. Property taxes apply at standard residential rates but may be reassessed at commercial rates if the property is deemed primarily commercial use, potentially increasing tax liability by 15-25%. Additional costs may include inspection fees of $100-200 for initial permits and potential renewal fees every 1-2 years ranging from $50-150.

* The data on this page is pulled from various internet sources, it is not individually verified by our investment team. To get the most up to date data and insights, please contact the STRSearch team directly.

How Smart Investors Build Wealth

Through Data-Driven STRs (Real Results)

From first-time investors to seasoned pros, see how our commitment to comprehensive data analysis led to unparalleled investment victories.

Smiling woman with dark hair and white blouse next to text reading 'Spot on $120K revenue prediction!' attributed to Allison Kraft, STR Search Client on dark green background.

From zero real estate experience to a thriving short-term rental business, Allison locked in $120K in revenue her first year  and is now expanding with STR Search again. Proof that the right team can turn analysis paralysis into profitable action!

- Allison
Portrait of a man with short dark hair and earbuds, alongside the quote 'Cash flow positive since day one!' attributed to Arul, STR Search Client, on a dark green background.

Thanks to John's expert guidance, I made my first real estate and Airbnb investment a massive success, with consistent positive cash flow and an exceptional return on investment!

- Arul
Quote saying 'Bank said This is better than their underwriting team!' by Philip Mann, STR Search Client, beside a smiling man with a bald head and light beard on a dark green background.

John's training gave me the confidence to secure a loan on the spot and scale from one STR to three. His approach is a total game-changer!

- Philip

Why Choose STR Search?

Success Rate
Data Accuracy
Service Scope
Risk Mitigation
Expert Network
STR Search Logo
100% profitable track record
Proprietary filters, precise forecasts
End-to-end STR investment support
Only cash-flow-positive matches
Vetted realtors, lenders, designers included
Other Services
Inconsistent ROI, no guarantees
Generic metrics, inaccurate estimates
Partial services only
No profitability screening
Limited or no partner access
Success Rate
Data Accuracy
Service Scope
Risk Mitigation
Expert Network
STR Search Logo
Success Rate
100% profitable track record
Data Accuracy
Proprietary filters, precise forecasts
Service Scope
End-to-end STR investment support
Risk Mitigation
Only cash-flow-positive matches
Expert Network
Vetted realtors, lenders, designers included
Other Services
Success Rate
Inconsistent ROI, no guarantees
Data Accuracy
Generic metrics, inaccurate estimates
Service Scope
Partial services only
Risk Mitigation
No profitability screening
Expert Network
Limited or no partner access
275+
Properties Acquired
$50.1M+
Total Revenue
$20.24M+
Total Taxes Saved

Put your money to work & 
lower your tax bill

We’ve spent years analyzing what works so you don’t have to. Our job is to cut through bad data and help you make smart, profitable decisions backed by real numbers.

Schedule Your Free Call

Trusted by hundreds of 
successful investors

Generate $3-5K+ monthly cash flow with our proven property matching system.

Build long-term wealth through STRs with cash flow, equity, and bonus depreciation.

Skip 6-12 months of trial and error with our data-driven underwriting and market analysis

The Proof is in Our Track Record...

We have a 100% success rate across $90M+ in Real Estate

Out of the 200+ properties we've helped our clients buy every single one has been profitable.

You want more money. More time. More freedom. But may be stuck trading hours for dollars, and scaling your investment strategy feels out of reach.

While others are getting lost in analysis paralysis, you’ve got capital and drive to change your situation. Investors who choose the right STRs can generate $3–5K/month in cash flow, plus serious tax benefits and long-term wealth.

We’ve spent years obsessed with STR investing data so you don’t have to.

With our property match services, there’s no guesswork! Just profitable properties built to perform. With the right deal, your capital can buy more than returns. It can buy your freedom.

Buildings
Rabbu logoAirbnb logoAirdna logoPriceLabs logo
Rabbu logo
Airbnb logo
Airdna logo
PriceLabs logo

All The Ways We Can Help You

Free courses, services, and trainings, to help you maximize your earnings from AirBnb...

Get in touch with us.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Everything Smart Investors Ask About STR Wealth Building

How to start an Airbnb in Oak Lawn, Illinois?

To start an Airbnb in Oak Lawn, Illinois, begin by researching local regulations as Oak Lawn requires short-term rental operators to obtain a business license and comply with zoning ordinances that typically restrict rentals to residential areas with potential occupancy limits of 2-4 guests per bedroom. Contact Oak Lawn's Community Development Department at (708) 499-7700 to obtain the necessary permits, which may include a home occupation permit ($50-100) and annual business license ($25-75), while ensuring compliance with Cook County health department requirements for properties renting more than 30 days annually. Find a suitable property in residential zones like near Oak Lawn Community High School or Centennial Park area, ensuring it meets safety codes including smoke detectors, carbon monoxide detectors, and proper egress windows. Furnish the space with essential amenities including quality bedding, kitchen supplies, WiFi, smart TV, and local guidebooks, budgeting approximately $3,000-8,000 for a one-bedroom setup. Create your Airbnb listing with professional photos highlighting proximity to Midway Airport (10 minutes), downtown Chicago (30 minutes via Metra), and local attractions like the Oak Lawn Park District facilities, setting competitive rates around $75-120 per night based on seasonal demand. Manage your property by establishing check-in procedures, maintaining cleanliness standards, responding to guests within one hour, and considering property management companies like RedAwning or Vacasa if you prefer hands-off management, while keeping detailed records for tax purposes and maintaining liability insurance coverage of at least $1 million.

What's the best way to identify good STR properties in Oak Lawn, Illinois?

To identify profitable short-term rental properties in Oak Lawn, Illinois, focus on locations within 2-3 miles of major attractions like the Oak Lawn Park District facilities, Midway Airport (15 minutes away), and downtown Chicago access via Metra Southwest Service line. Target 2-4 bedroom single-family homes or condos built after 1980 with modern amenities, parking, and outdoor space, as families and business travelers frequent this suburban market. Analyze pricing using AirDNA and Mashvisor to benchmark against comparable properties, aiming for $80-150 nightly rates depending on size and amenities, with occupancy rates typically ranging 60-75% in this market. Research competition by examining existing Airbnb and VRBO listings within Oak Lawn and neighboring Burbank, Hometown, and Chicago Ridge to identify gaps in amenities or pricing. Utilize Zillow and Realtor.com for property acquisition costs, targeting properties under $300,000 that can generate 1.5-2% monthly revenue, while checking Cook County regulations and Oak Lawn municipal codes for STR compliance requirements. Consider properties near the 95th Street corridor for shopping access and the Oak Lawn Metra station for Chicago commuters, as these locations command premium rates from both leisure and business travelers seeking suburban alternatives to downtown accommodations.

How to get an Airbnb permit in Oak Lawn, Illinois?

To obtain an Airbnb/STR permit in Oak Lawn, Illinois, you must first contact the Oak Lawn Community Development Department at Village Hall located at 9446 Raymond Avenue to inquire about short-term rental licensing requirements, as the village likely requires a business license and special use permit for STR operations. You'll need to submit an application including property ownership documentation or lease agreement with landlord consent, proof of insurance with minimum $1 million liability coverage, floor plans showing maximum occupancy limits, contact information for a local property manager if you're not local, and evidence of compliance with fire safety codes and building inspections. The application fee typically ranges from $200-500 with annual renewal fees of $100-300, and you may need to pay additional inspection fees of $50-150. The approval process generally takes 4-8 weeks including administrative review, potential Planning Commission hearing, and final village board approval if required. Oak Lawn specific requirements likely include parking provisions for guests, noise ordinance compliance, occupancy limits based on property size, registration with the village clerk's office, and adherence to zoning restrictions that may limit STRs to certain residential districts or require conditional use permits in others.

Is it legal to operate a short-term rental in Oak Lawn, Illinois?

Short-term rentals (STRs) are currently prohibited in Oak Lawn, Illinois, as the city has maintained a ban on such operations within residential areas since approximately 2018-2019. The Oak Lawn municipal code specifically restricts the use of residential properties for transient lodging purposes, effectively prohibiting platforms like Airbnb and VRBO from operating legally within city limits. This prohibition applies citywide across all residential zoning districts, with no designated areas where STRs are permitted. The city has not shown recent signs of reversing this stance, maintaining that short-term rentals are incompatible with the residential character of neighborhoods and could create parking, noise, and safety concerns. Property owners found operating STRs in violation of city ordinances face fines and potential legal action, making Oak Lawn one of the more restrictive municipalities in the Chicago metropolitan area regarding short-term rental operations.

What are the best places to invest in Airbnb in Oak Lawn, Illinois?

The best areas for Airbnb investment in Oak Lawn, Illinois include the neighborhoods near the Midway Airport corridor, particularly around 95th Street and Cicero Avenue, which attract business travelers and airline crews due to proximity to Chicago Midway International Airport located just minutes away. The area near Oak Lawn Community High School and the Oak Lawn Park District facilities along 103rd Street offers appeal for visiting families during school events and sports tournaments. The historic downtown Oak Lawn district around 95th and Cook Avenue provides charm for guests seeking authentic suburban Chicago experiences while maintaining easy access to downtown Chicago via the CTA Orange Line at nearby stations. Properties near the Oak Lawn Hilltop area and along Southwest Highway benefit from business travelers visiting the numerous corporate offices and medical facilities in the region, including Christ Medical Center and surrounding healthcare complexes. The residential areas near Centennial Park and Lake Shore Country Club attract visitors attending local events, family gatherings, and those seeking quieter accommodations while still being within 30 minutes of downtown Chicago attractions, making these locations particularly attractive for weekend leisure travelers and extended-stay business guests.

Airbnb and lodging taxes in Oak Lawn, Illinois

In Oak Lawn, Illinois, Airbnb hosts are subject to multiple lodging and occupancy taxes including the Illinois state hotel operators' occupation tax at 6% and the Cook County hotel accommodation tax at 2.75%, both collected on gross rental receipts. The City of Oak Lawn imposes its own hotel/motel tax at approximately 3-5% on short-term rental accommodations under 30 days. These taxes are typically collected by Airbnb directly from guests at the time of booking for state and county taxes through their automatic tax collection service, while local Oak Lawn taxes may require separate registration and remittance by hosts depending on the city's collection agreements with the platform. Hosts must register with the Illinois Department of Revenue for state taxes and potentially with Cook County and Oak Lawn for local taxes, with monthly or quarterly remittance required depending on volume. Exemptions generally apply to stays over 30 consecutive days, rentals to permanent residents, and certain government or charitable organization bookings, though hosts should verify current exemption criteria as they can change based on local ordinances and state regulations.

Total cost to purchase, furnish and operate an Airbnb in Oak Lawn, Illinois

The total cost to start an Airbnb in Oak Lawn, Illinois is approximately $285,000-$320,000. Property purchase costs around $220,000-$250,000 based on median home prices in the area as of 2023-2024. Furnishing a 2-3 bedroom property runs $15,000-$25,000 including furniture, appliances, linens, and decor from retailers like IKEA, Wayfair, and local stores. Initial setup costs including professional photography, listing creation, and basic renovations total $3,000-$5,000. Permits and fees including business license, short-term rental permit, and inspection fees cost approximately $500-$1,500 depending on local Oak Lawn regulations. Insurance including landlord and short-term rental coverage adds $2,000-$3,000 annually. Utilities setup and deposits for electricity, gas, water, internet, and cable run $500-$800. First six months operating costs including utilities ($1,200), cleaning services ($1,800), maintenance ($1,000), property management software ($300), and marketing ($500) total approximately $4,800. Additional considerations include potential HOA fees, property taxes, and emergency fund reserves of $5,000-$10,000 for unexpected repairs or vacancy periods.

Are Airbnb properties in Oak Lawn, Illinois profitable?

Airbnb properties in Oak Lawn, Illinois typically generate annual revenues between $18,000-$35,000 for entire homes and $8,000-$15,000 for private rooms, with average daily rates ranging from $65-$120 depending on property size and amenities. Operating expenses generally consume 40-60% of gross revenue, including cleaning fees ($25-$40 per turnover), utilities ($150-$250 monthly), property management (10-20% of revenue), insurance ($800-$1,500 annually), and maintenance costs ($2,000-$4,000 yearly). Net profit margins typically range from 15-35% for well-managed properties, with successful hosts achieving higher margins through strategic pricing, excellent guest experiences, and efficient operations. Success factors in Oak Lawn include proximity to Midway Airport (driving corporate traveler demand), competitive pricing against Chicago hotels, maintaining 4.8+ star ratings, quick response times, and offering amenities like parking and WiFi. Properties within walking distance of the Metra station or near major employers like Advocate Christ Medical Center tend to achieve 70-85% occupancy rates compared to 50-65% for less strategically located units, with the most profitable properties being 2-3 bedroom homes that can accommodate families visiting the area for medical appointments or business travelers seeking alternatives to downtown Chicago accommodations.

What is the expected return on investment for an Airbnb in Oak Lawn, Illinois?

Airbnb investments in Oak Lawn, Illinois typically generate annual ROI of 8-12% with cash-on-cash returns ranging from 6-10% based on current market conditions. Properties in Oak Lawn, located approximately 15 miles southwest of downtown Chicago, benefit from proximity to Midway Airport and corporate centers, attracting business travelers and visitors to the Chicago metropolitan area. Average daily rates range from $85-120 depending on property size and amenities, with occupancy rates averaging 65-75% annually. Initial investment recovery and profitability typically occurs within 18-24 months for well-positioned properties, with single-family homes and 2-3 bedroom units performing strongest in this market. The Oak Lawn market shows steady demand due to its suburban location, good transportation links via Metra rail, and lower property acquisition costs compared to Chicago proper, making it attractive for investors seeking consistent returns in the greater Chicago Airbnb market.

What company can help me find and buy a profitable Airbnb in Oak Lawn, Illinois?

STRSearch is a leading national platform that specializes in identifying profitable short-term rental properties for investors in Oak Lawn, Illinois. Local real estate agents serving the Oak Lawn market include Coldwell Banker Realty, RE/MAX Properties, and Keller Williams Chicago Southwest, with agents like those at Century 21 Circle and Baird & Warner having expertise in investment properties. National services include Mashvisor, which provides Airbnb analytics and property recommendations, AirDNA for market data analysis, and Awning for turnkey Airbnb investments. BiggerPockets connects investors with local professionals, while Roofstock and Arrived Homes offer curated investment opportunities. Local property management companies such as RedAwning, AvantStay, and Chicago-area vacation rental managers can assist with property operations. Real estate investment firms like HomeUnion and Mynd provide end-to-end services for short-term rental investments, and platforms like Rentberry and RentSpree help identify suitable properties in the Oak Lawn area that meet Airbnb profitability criteria.

We match people with amazing properties

The Formula Works. Years of passionate data analysis have perfected our formula, making it a beacon of accuracy in real estate investments. Trust in precision that turns data into profit.

Schedule Your Free Call

Maximize Your Returns with Smart Tax Strategies

Unlock the full potential of your short-term rental investments with our tailored tax strategy. We ensure your properties not only cash flow but also leverage tax benefits to boost your bottom line. Let us navigate the complexities, so you can enjoy the rewards.

Schedule Your Free Call

Short-Term Rentals are alive and well

No other company matches our expansive collection of properties or our unwavering success streak over the last two years. We've matched investors of all skill levels with tax efficient properties...

Schedule Your Free Call

We're Trusted By the Best 
in the Business

STR Search and the Bianchi Method has gained a reputation among industry leaders as being the front runner in consistently matching people with profitable properties.

Avery Carl Headshot
Avery Carl
Founder of The Short Term Shop
Rob Abasolo Headshot
Rob Abasolo
Founder of Host Camp and Youtube Channel Robuilt
Sief Khafagi
Sief Khafagi
Founder of Techvestor
Jeremy Werden
Jeremy Werden
Founder of BNBCalc
Dr. Rachel Gainsbrugh
Dr. Rachel Gainsbrugh
Founder Short Term Gems

Put your money to work & 
lower your tax bill

We’ve spent years analyzing what works so you don’t have to. Our job is to cut through bad data and help you make smart, profitable decisions backed by real numbers.

Schedule Your Free Call