Politics & Government
Chicago Parking Meters Could Soon Be Sold To A New Private Owner, N.Y.-Based Stonepeak Partners
Terms of the sale were not disclosed by the mayor's office, but the deal is subject to approval by the City Council.
May 19, 2026
A New York-based investment firm has agreed to purchase Chicago's parking meter system from the company that purchased them in an infamous 75-year deal in 2008, but the deal still requires City Council approval.
Find out what's happening in Chicagofor free with the latest updates from Patch.
Mayor Brandon Johnson's office confirmed Chicago Parking Meters LLC has agreed to transfer its rights to the city's parking meters to Stonepeak Partners.
Terms of the sale were not disclosed by the mayor's office, but the deal is subject to approval by the City Council, giving alders leverage to try to negotiate better terms for taxpayers.
