Category City in Motion

The changes reshaping Chicagoland: transit projects, development, stadium moves, budgets, and what each one means for the people who live here.

Chicago’s Parking-Meter Deal, From the Documents: More Than $1.15 Billion Up Front in 2009, $161 Million in True-Up Payments Through 2024 — and a Sale the City Council Approved 46 to 3, on Conditions

A parking pay box beside parked cars on a sunny commercial street

On September 29, 2026 the City Council voted 46 to 3 to approve, on conditions, the proposed sale of the company that holds Chicago’s parking meters, with a lease amendment under which the city is to receive $75 million, five percent of the company’s net income each year as the amendment defines it, and two percent of what the owners are paid in a later transfer that needs city approval. The 75-year lease itself, priced at $1,156,500,000 in the agreement and $1,151,355,186 on the operator’s books, and the $160,953,305 in true-up payments the city made through fiscal 2024, read from the documents.

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