ThirdHome’s luxury home exchange model targets owners of vacation properties valued at $500,000 or above. In some US markets, that describes a modest condo. In Chicago, $500,000 buys a genuinely impressive family home — a spacious greystone, a vintage six-flat conversion, a lakefront apartment with panoramic views. But ThirdHome doesn’t care how beautiful your home is if you live in it.
ThirdHome only accepts second homes and vacation properties. The vast majority of Chicago homeowners — even those in stunning, spacious properties that would be worth millions in coastal cities — live in their primary residence. ThirdHome excludes them all.
SwapSpace welcomes every Chicago home. Your three-bedroom greystone in Logan Square, your lakefront apartment in Edgewater, your family bungalow in Portage Park — all have equal value in the SwapSpace community.
What Is ThirdHome?
ThirdHome is an exclusive home exchange platform designed specifically for owners of luxury second homes and vacation properties. Unlike mainstream home swap platforms, ThirdHome requires that listed properties meet strict quality and value criteria — typically homes valued at $500,000 or above. The platform operates on a membership plus credits model, with an annual fee of $595 per year. Members earn credits based on their property’s appraised value and use those credits to book stays at other luxury properties, resorts, yachts, and even experiences. ThirdHome positions itself firmly in the luxury travel segment, offering concierge services and curated travel experiences alongside home exchanges.
Why Chicago Travellers Are Looking for ThirdHome Alternatives
ThirdHome excludes virtually every Chicago resident.
Primary residences aren’t accepted regardless of quality. ThirdHome only takes vacation homes. Chicago residents whose spacious, characterful greystones and apartments are among the most desirable swap properties in the US are excluded because they live in them.
The $595 fee is misaligned with Chicago’s value-conscious culture. Chicagoans pride themselves on getting good value. Nearly $600 per year for a platform that won’t accept their home — and that targets luxury vacation property investors rather than working families — is a non-starter.
The credit system would massively disadvantage Chicago. ThirdHome assigns credits based on appraised value. Chicago properties — despite offering far more space, character, and liveability than equivalently priced coastal homes — would earn fewer credits. A three-bedroom greystone in Wicker Park worth $600,000 would earn less per night than a $2 million studio in Manhattan. The system structurally penalises living in an affordable city.
ThirdHome vs SwapSpace: How They Compare
| Feature | ThirdHome | SwapSpace |
|---|---|---|
| Membership cost | $595/year | Free during founding phase |
| Credit system | Credits based on property value — not equal | SwapCredits – 1 credit = 1 night, all homes equal |
| Welcome credits | Included with membership | 7 SwapCredits for every new member |
| Verification | Property appraisal required | Invite-only, every application reviewed |
| Renters welcome | No — second home owners only | Yes – renters are first-class members |
| Damage protection | Security deposit system | Coming soon |
| Chicago listings | Available | Growing – founding community |
Why SwapSpace Works for Chicago Members
SwapSpace is an invite-only home exchange community where verified members swap homes and travel affordably using SwapCredits. Unlike ThirdHome, every member is vetted before joining, creating a high-trust community from day one.
The SwapCredits system is deliberately simple. One credit equals one night at any SwapSpace home, regardless of size or location. This means Chicago renters with modest flats can access the same destinations as homeowners with large properties – something that not every platform offers.
New members receive 7 SwapCredits immediately after listing their home. That is enough for a full week of accommodation before you have hosted anyone. This solves one of the biggest frustrations with traditional home exchange – needing to earn points or arrange a simultaneous swap before you can travel.
SwapSpace is currently building its founding community across London, New York, and cities across Europe. Chicago is a priority location, which means members who join now get early access to the community and the most attentive support as it grows.
Home Swapping Tips for Chicago
Chicago is one of America’s great cities and a hidden gem for home swapping.
Lake Michigan proximity is your strongest card. If your home is in a lakefront neighbourhood — Lincoln Park, Lakeview, Edgewater — the lake access is your listing’s hero feature. International visitors don’t always realise Chicago has stunning urban beaches. Highlight your distance to the lakefront trail.
Winter honesty matters. Chicago winters are legendary. If someone is planning a December swap, be upfront about temperatures and conditions. But also sell the winter experience — Chicago’s food scene, museums, and indoor culture are world-class regardless of weather. Holiday season in Chicago is genuinely magical.
Architecture tourism drives demand. Chicago’s architectural heritage — Frank Lloyd Wright, the Chicago School, the Magnificent Mile — draws a specific type of culturally engaged visitor. If your home is in an architecturally significant building or neighbourhood, emphasise it.
The neighbourhoods outside downtown are the real draw. Visitors who stay in Loop hotels miss what makes Chicago special. Wicker Park’s restaurants, Logan Square’s music venues, Pilsen’s murals — your neighbourhood listing puts visitors where the real city lives.
What Chicago SwapSpace Members Are Looking For
Chicago members tend to be professionals and families who chose Chicago for its combination of big-city culture and Midwestern affordability. Many live in spacious apartments and houses that would be unimaginably expensive in New York or San Francisco — giving Chicago members exceptional swap value. A three-bedroom greystone in Logan Square or a lakefront apartment in Lincoln Park is genuinely more space and character than most New York apartments.
Incoming interest comes from domestic US travellers discovering Chicago’s food, architecture, and lakefront, and international visitors — particularly Europeans — who see Chicago as the authentic American city experience. Chicago members typically look to swap into coastal US cities, London, and European destinations.
How SwapSpace Works
1. Apply and get verified. Submit your home details and photos. We review every application within 48 hours to ensure quality and trust across the community.
2. Earn and use SwapCredits. Receive 7 credits when you join – enough for a week of free accommodation. Earn more by hosting other members. Each credit equals one night at any SwapSpace home worldwide.
3. Swap and travel. Browse available homes, connect with verified hosts, and start exploring. Whether it is a mutual swap or a one-way stay using credits, every exchange is between trusted, vetted members.
Ready to Start Swapping in Chicago?
SwapSpace is currently accepting applications from homeowners and renters in Chicago. As a founding member, you will get early access to the community, 7 SwapCredits to start travelling immediately, and a say in how the platform grows.
Looking for alternatives to other platforms in Chicago? Check out our guides to the best HomeExchange alternative in Chicago, best Kindred alternative in Chicago, best Airbnb alternative in Chicago.
