The Worst Deal Chicago Ever Made

West Loop lost a lot of free parking this summer, which has us talking about the city’s infamous parking meter deal. In 2008, City Council voted to privatize Chicago’s parking meters for 75 years in return for $1 billion. But in the years since, analysis after analysis has shown the meters were worth much more, and the city lost out on revenues while investors earn a profit as Chicagoans pay some of the highest parking rates in the country. While he was at the Reader, Block Club Chicago reporter and editor Mick Dumke investigated the deal after it first passed. He tells host Jacoby Cochran why Chicago went for it, who challenged it, and how we feel the effects today. Some good news: Chappell Roan’s local weightlifters at Lollapalooza If you enjoyed today's interview with Ravinia Festival's Artistic Director, Erik Soderstrom, learn more here. Want some more City Cast Chicago news? Then make sure to sign up for our Hey Chicago newsletter.  Follow us @citycastchicago You can also text us or leave a voicemail at: 773 780-0246 Learn more about the sponsors of this Aug. 5 episode: Ravinia Chicago Association of Realtors Become a member of City Cast Chicago. Interested in advertising with City Cast? Find more info HERE