Morgan Stanley Group Sells Chicago Parking Meter Lease to Stonepeak, Pending City Council Approval
Updated
Updated · Bloomberg · May 18
Morgan Stanley Group Sells Chicago Parking Meter Lease to Stonepeak, Pending City Council Approval
2 articles · Updated · Bloomberg · May 18
A Morgan Stanley-led group signed a purchase and sale agreement to transfer Chicago’s parking meter lease to New York-based Stonepeak, Mayor Brandon Johnson’s office said Monday.
City Council approval is still required, and an ordinance to advance the transaction is set to be introduced this week.
Price and other deal terms were not immediately disclosed, leaving key details of the lease sale unclear.
Chicago's notorious parking lease has a new owner. Can the city finally renegotiate its terms?
Why pay billions for a parking lease when driverless cars could soon make meters obsolete?