Apr 3, 2009 4:54 pm US/Central
Homeowners Hope Olympics Bring Big Payday
CHICAGO (CBS) ―
Even though the Olympics are still seven years away, some Chicagoans are already making plans to cash in.
CBS 2's Dorothy Tucker reports.
On Friday, workers were putting the finishing touches on Washington Park in preparation of the International Olympic Committee's tour of the site. In the communities that surround the park, homeowners are joining politicians, corporate leaders and business people hoping that the dream of 2016 becomes a reality.
"People are looking for a way to make a quick buck," one man said.
They're banking on renting their homes and apartments to Olympic visitors.
Markham Thomas of Bronzeville said he has friends who think they'll be able to leave town and rent their homes for between $4,000 and $10,000 a week.
But Patrick Sandusky, a spokesman for Chicago 2016, says housing would be provided for the estimated 17,000 athletes, so they won't need a place to rent. Although some 2 million visitors may come, in Olympic cities like Atlanta, most stayed with friends and relatives. In Chicago, there are more than 40,000 hotel rooms.
"One of our greatest strengths we've been told by the IOC in their reports is our level of accommodations, our hotels," Sandusky said.
Just to put your dreams in perspective: In Atlanta, some 300,000 people signed up to rent their homes. In the end, only 10,000 were used.
Instead of dreaming of renting out your place for big bucks, members of the Olympic committee are hoping some Chicagoans will have a heart – meaning, they'll offer their homes for low prices to visitors who can't afford downtown hotels or maybe even donate the space.
If we win the Olympic bid, perhaps visions of cash will be replaced by visions of kindness.
One more lesson to learn from the folks in Atlanta: Lower your expectations on the rents. The average single family home in Atlanta rented for $150 to $400 a night. A two bedroom apartment went for just $165 a night.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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