In an effort to put a stop to rampant, out-of-control partying (seriously), Ald. Brendan Reilly (42nd) wants to levy a $500 licensing fee to condo owners who rent their units, Crain’s Chicago reports.
The alderman’s proposal, co-sponsored with Ald. Ed Burke (14th), would allow up to six owners in any condo building to rent their units for brief periods, but only after having paid the $500 licensing fee.
In case more than six owners wanted to rent, they would need to go through the existing registration process involving a hotel license. That would cost $165, plus $2.20 per each room, not to mention the various city inspections and a $40 fee for each criminal background check.
The City’s License Committee will discuss the proposal during its Nov. 30 hearing.