If you are in need of extra income, it may be a good idea to turn your basement into a rental unit. Doing so can help you make a residual income each month for as long as you own the home. A rental income can help you pay down your mortgage faster, which will build equity in the property and allow you to save for retirement or other financial goals. So what should you consider before deciding to invest in a basement remodeling project in Chicago? Read on to find out.