While factors like the renovation of Wrigley Field and the mixed-use redevelopment of nearby properties have brightened Wrigleyville’s long-term real estate outlook, the north side neighborhood is also experiencing short-term gains in the form of increased vacant rental activity as the Cubs make a run for the National League pennant. According to a recent report by the Chicago Sun-Times, Airbnb vacation rentals in the area were up a whopping 25 percent this weekend as the Cubs hosted the Los Angeles Dodgers for games one and two of the series.
Increased demand for lodging isn’t the only side of the Airbnb equation experiencing a recent playoff-fueled boost. The supply of hosts—individuals offering all or a portion of homes for rent via the popular online service—was also up 6.6 percent across the neighborhoods surrounding Wrigley field such as Lakeview, Roscoe Village, Boystown, North Center, Buena Park, and Uptown. Surprisingly, the median per-evening rate remained unchanged over the same period, hovering around the $100 mark.
Considering that the Wrigleyville neighborhood is already scarce on year-round lodging options, it’s little shock that the Chicago Cubs’ playoff run has corresponded with an uptick in Airbnb activity. Upcoming hospitality projects like the Hotel Zachary and Holiday Jones have both stepped up to address this pre-existing need moving forward.
- Cubs’ playoff run provides a bump for Airbnb [Chicago Sun-Times]
- Wrigleyville archives [Curbed Chicago]