West Loop · Fulton Market · River North STR Management

Your Chicago Property.
Fully Managed.
You Check the Deposit.

MorHaven handles every detail of your short-term rental — guest communication, dynamic pricing, professional turnover cleaning, and review management. Owner-operators who've built hospitality businesses from the ground up.

Get the Free Report → See What Your Unit Could Earn →
13+ Years Real Estate Experience
IL & CO Licensed Broker
Full-Service Not a Software Platform
✓ Licensed Illinois Real Estate Broker
✓ 13+ Years Real Estate Experience
✓ Hospitality Business Ownership
✓ Chicago-Based Operator
✓ Direct Access to Ownership
✓ No National Call Centers
Local Market Data

Chicago Short-Term Rental Market Snapshot

The Chicago STR market rewards well-managed properties. Here's what the numbers look like for operators who know how to run them.

📊
68–74%
Average Occupancy
Well-managed Chicago STRs
💵
$200–$275
Average Daily Rate
1–2BR across core neighborhoods
📈
$45K–$85K+
Annual Revenue Potential
Depending on unit size and location
☀️
May–Oct
Peak Season
Highest rates + occupancy window
📍
Top Markets
West Loop · Fulton Market · River North
Highest ADR neighborhoods

Based on publicly available market data and comparable short-term rental performance. Actual results vary by unit, furnishing, and management quality.

Illustrative Market Examples

What Chicago STR Properties Actually Earn

These projections are based on comparable Chicago properties at current market rates. Your property's performance depends on location, size, furnishing quality, and management execution.

West Loop
1 Bedroom Condo
78%
Occupancy
$245
Avg. Daily Rate
$69,700
Est. Annual Revenue
West Loop management →
Highest Earning
Fulton Market · 2 Bedroom
81%
Occupancy
$335
Avg. Daily Rate
$98,900
Est. Annual Revenue
Fulton Market management →
River North
Studio Unit
74%
Occupancy
$205
Avg. Daily Rate
$55,300
Est. Annual Revenue
River North management →
See Full Revenue Breakdown by Neighborhood →
Expert Perspective

The 5 Revenue Killers We See Most Often

Most self-managed Chicago STRs underperform by 20–35% due to the same five problems. These are fixable — but only if you know to look for them.

01
⏱

Slow Response Times

Airbnb rewards response speed with search visibility. Delayed replies lose bookings to faster hosts and suppress your ranking in Chicago search results.

02
📉

Weak Pricing Strategy

Static nightly rates leave significant revenue uncaptured. Chicago rates shift daily with events, conventions, weather, and competitor inventory.

03
🔍

Poor Listing Optimization

Weak photos, unoptimized copy, and missing keywords reduce visibility and click-through. Your listing competes with hundreds of Chicago properties for every search.

04
🧹

Cleaning Issues

A single negative cleanliness review can suppress your listing for months. Inconsistent turnovers are the leading cause of rating decline in Chicago STRs.

05
📅

Calendar Mismanagement

Gaps between bookings, minimum night restrictions set too high, and missed last-minute opportunities compound into thousands of dollars in lost revenue annually.

What We Do

Full-Service STR Management.
You Stay Completely Hands-Off.

Every piece of your operation owned by MorHaven so you never have to think about it.

📊

Revenue Optimization

Daily nightly rate adjustments based on Chicago market data, local events, seasonality, and competitor inventory. Set-and-forget pricing leaves money behind.

💬

Guest Communication

Every inquiry, booking, check-in instruction, mid-stay request, and post-checkout follow-up handled promptly — including nights and weekends.

✨

Cleaning Coordination

Hotel-standard turnover cleaning between every guest. Linens, restocking, and inspection — done to a checklist that protects your rating and your property.

🔧

Maintenance Coordination

When something breaks, we handle it. Vendor coordination, issue triage, and owner communication — without you making a single call.

📋

Listing Management

Professional photography coordination, keyword-optimized copy, and Airbnb algorithm strategies to maximize search visibility in Chicago's competitive market.

📈

Performance Reporting

Monthly performance reports covering revenue, occupancy, ADR, review scores, and market comparisons. You always know exactly how your asset is performing.

Self-managing but need professional cleaning?

Standalone STR Cleaning Service — No Co-Hosting Required →
Chicago Markets

Chicago Neighborhood Performance Guide

Every Chicago neighborhood performs differently. Here's what operators see across our core markets — and what drives performance in each.

West Loop Chicago
West Loop
$250–$350 ADR
Best For: Business Travelers
Explore →
 Fulton Market Chicago
Fulton Market
$300–$400 ADR
Best For: Luxury Stays
Explore →
 River North Chicago
River North
$225–$325 ADR
Best For: Weekend Visitors
Explore →
 South Loop Chicago
South Loop
$175–$250 ADR
Best For: Museum Campus Visitors
Explore →
 Lincoln Park Chicago
Lincoln Park
$175–$275 ADR
Best For: Families
Explore →
 Streeterville Chicago
Streeterville
$200–$300 ADR
Best For: Lakefront Guests
Explore →
Why MorHaven

Built By Operators.
Focused On Results.

🏙

Local Chicago Market Knowledge

We operate in the neighborhoods we manage. West Loop-based operators who understand Chicago's STR dynamics from the inside.

📈

Revenue-Focused Management

We're paid a percentage of your revenue. When you earn more, we earn more. Our incentives are structurally aligned with your performance.

🏡

13+ Years Real Estate Experience

Licensed in Illinois and Colorado. We understand investment property performance — not just hospitality, but the asset underneath it.

🤝

Hands-Off Ownership

Your only job is reviewing monthly reports and cashing out. No guest messages, no cleaning coordination, no maintenance calls.

💬

24/7 Guest Communication

Every message answered promptly. Every issue resolved before it becomes a review problem. Every guest experience managed from inquiry to checkout.

🔧

Performance Optimization

Listing copy, photography, pricing, and reviews — continuously improved based on what Chicago's algorithm and guests respond to.

Colton Mortag — Founder & Managing Operator, MorHaven Stays
Meet the Founder
Colton Mortag
Founder & Managing Operator — MorHaven Stays
"MorHaven was built for Chicago property owners who want to maximize revenue without managing an operation. After 13 years in real estate and building a hospitality business from scratch, I know exactly what it takes to run one well."
Licensed Illinois Real Estate Broker
Licensed Colorado Real Estate Broker
13+ Years Real Estate Experience
Hospitality Business Founder & Operator
Chicago-Based — West Loop Resident
Get My Free Revenue Projection →
Getting Started

From Conversation to Cash Flow in Under 2 Weeks

1

Revenue Assessment

We analyze your property's location, size, finishes, and the current Chicago market to build a realistic revenue projection before we talk about management.

2

Property Setup

Photography coordination, listing creation, pricing configuration, and house rule setup. Your property goes live optimized — not as a first draft.

3

Guest & Operations Management

MorHaven owns all daily operations from first inquiry through post-checkout review. Guest messages, cleaning, maintenance coordination — fully handled.

4

Monthly Revenue Reporting

Every month you receive a performance report covering revenue, occupancy rate, ADR, review scores, and market comparison. You stay informed without staying involved.

Transparent Pricing

Simple, Performance-Aligned Pricing

We earn more when you earn more. No setup fees, no hidden charges, no long-term contracts.

20–25%
of gross booking revenue
  • Property size and bedroom count
  • Service level required
  • Turnover frequency
  • Furnishing and stocking requirements
  • Location within Chicago

Exact pricing confirmed after reviewing your property. No setup fees, no hidden charges, no contracts that trap you.

What the Fee Covers
Your management fee funds an entire operation running in the background so you never have to think about it.
  • ✓ 24/7 guest communication and support
  • ✓ Daily dynamic pricing adjustments
  • ✓ Professional turnover cleaning coordination
  • ✓ Listing creation, optimization, and photography coordination
  • ✓ Review management and guest follow-up
  • ✓ Maintenance issue triage and vendor coordination
  • ✓ Monthly performance reporting
  • ✓ HOA and STR compliance review upfront
Common Questions

What You Need to Know Before Reaching Out

Can I Airbnb my Chicago condo?

It depends on your HOA rules and building lease. As a licensed Illinois broker, we review your HOA documents and lease agreement before taking on any property. We won't manage a unit that puts your ownership at risk. Most investor-owned condos in our target neighborhoods qualify.

How much can my property earn?

Chicago 1BR condos in core neighborhoods like West Loop and River North typically generate $45,000–$70,000 annually under well-managed STR operations. 2BR properties in Fulton Market regularly exceed $90,000. We provide a custom revenue projection for your specific unit before any agreement is signed.

How is your fee structured?

We charge 20–25% of gross booking revenue depending on property size, service level, and turnover requirements. We earn more when you earn more. No hidden fees, no setup costs, no long-term contracts.

How long does onboarding take?

Most properties go from first call to live listing within 10–14 days, depending on photography needs and the current condition of the unit. We don't rush setup — a properly optimized listing from day one outperforms a fast one for the full duration of management.

Do I need to live in Chicago?

No. Many of our property owners live out of state or travel frequently. That's exactly what MorHaven is built for. We handle every local operational detail so your location is irrelevant to how your property performs.

What neighborhoods perform best?

West Loop, Fulton Market, and River North consistently generate the highest ADR and occupancy in Chicago's STR market. South Loop and Streeterville follow closely, with strong performance tied to Museum Campus and lakefront demand. Lincoln Park and Lakeview perform well with families and longer stays.

How are cleaners managed?

We coordinate professional turnover cleaning between every guest checkout. Cleaners work from a standardized checklist, and properties are inspected after each turn. Cleaning issues are the leading cause of rating decline in Chicago STRs — we treat it as a non-negotiable operational standard.

What does MorHaven handle versus what I'm still responsible for?

We own 100% of the operational side: guest communication, pricing, cleaning, restocking, maintenance coordination, reviews, and listing management. You remain responsible for mortgage, HOA fees, insurance, and major capital improvements. Everything else is ours.

Download the Free Chicago STR Revenue Report

Neighborhood ADR data, revenue by unit type, seasonal patterns, and the 5 factors that separate top earners from average — all in one free 8-page report.

Download the Free Report → or call us directly 312.521.0421
Free Revenue Projection

Get the Free 2026 Chicago STR Revenue Report

Enter your email to get instant access to the 2026 Chicago STR Revenue Report — neighborhood data, revenue by unit type, and everything you need to understand what your property could earn.

What You'll Receive
✓ Estimated nightly rate
✓ Occupancy projection
✓ Monthly revenue range
✓ Recommended pricing strategy
✓ Management fee estimate
✓ Property improvement recommendations

No spam. No sales pressure. We respond within 24 hours.

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