The Great Chicago Sell-Off

When Chicago sold 36,000 parking spaces to a conglomerate for 75 years, they did more than just rip off their residents.

Illustration by Sam Taylor

The world might be unrecognizable in seventy-five years, but at least Chicagoans like me know who we’ll be paying for parking. In 2008, our city entered into a seventy-five-year privatization contract with an investment conglomerate called Chicago Parking Meters llc (CPM) that includes Wall Street megabank Morgan Stanley, venture capital firm Alliance Capital Partners, and […]