Chicago parking meters switching owners, aldermen point to improvements over 2008 deal

Chicago Tribune / by Jake Sheridan and Alice Yin / September 29, 2026

The infamous parking meter lease that Chicagoans love to hate is switching hands, with a New York investment firm taking over after aldermen got them to improve the deal.

The City Council on Tuesday approved the sale of the parking meter system to Stonepeak Partners by a 46-3 vote. The firm made key concessions during the final stretch of a monthslong, high-stakes negotiation in order to get the $2.53 billion package across the finish line. Read More Here.