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Within the last few years, when the national real estate market was soaring, one of the trendiest properties to buy was the new condos that also acted as hotels. Chicago is a popular place to live, but also just to visit. For those that were vacationing in the city, new condos hotels became one of the main attractions of places to stay. Although the concept wasn't newly born, it appeared as such when new condos hotel projects were sprouting up all over Miami Beach, Orlando, Fort Lauderdale and Las Vegas. There are many reasons that make these particular Chicago condos so desired. The sales pitch is quite attractive; own condos at one of the newest and hippest hotels in the country, receive all the glorious amenities of the hotel, mingle into the hotel's social scene, enjoy lavish spas and spectacular dining just a few floors below you, and realize the potential for regular rental income.

However, this catchy sales pitch was at one time too good to be true, and sometimes still remains so. As the real estate market slowed down, many projects in Miami Beach and Las Vegas had the plugs pulled before the first brick was even laid. Other cities throughout the country faced the same sort of trouble. However, people still came to Chicago hoping to still see the lower prices in Chicago condos than these other cities. In other cities, the buyers who purchased pre construction ended up with their 10% deposit returned to them.

However, even with a few scrapped projects throughout the country, new condos hotels still remain throughout the city, and because people desire them, more are on their way. Nationwide, projects continue Chicago hardly supports a tourist market anywhere near the size of Florida and Nevada, some of the city's best hotels offers these Chicago new condos for ownership.

If you're interested in purchasing a residence at a hotel, it’s important to learn as much as you can about what comes with your ownership. What, if any, interaction exists between the residences and the hotel. Many times, especially in Chicago, residences are not allowed to participate in any rental programs. In such cases, the units are generally much larger and more luxurious then the hotel units.

There are many options available with Chicago condos hotels. Whether you are looking to buy or just look, there are many ways to go about it. Remember to look around and to take in as much of the city before making a decision. Despite the low market, these condos remain popular and give you a different view of the city than others.