Chicago May Arbitrate Parking Spat
Chicago Sun Times
April 16, 2012
Under the 99-year deal with Chicago Loop Parking LLC that privatized four parking garages in downtown Chicago, City Hall made a promise: It wouldn’t allow any parking facilities to open nearby. Today, though, you can park just a block away in a new garage at the 82-story Aqua building — and it’s cheaper, too. Now, Chicago Loop Parking LLC has filed an arbitration claim against the city that could leave Chicago taxpayers on the hook for $200 million or more.