Morgan Stanley-Led Group to Sell Chicago Parking Meters
A Chicago Parking Meters pay station in the Pilsen neighborhood of Chicago, Illinois.
Photographer: Terrence Antonio James/Chicago Tribune/Getty ImagesA Morgan Stanley-led group has reached a deal to sell its lease of Chicago’s parking meters to New York-based Stonepeak, Mayor Brandon Johnson’s office said.
The two parties have signed a purchase and sale agreement, a spokesperson for Johnson said Monday. The transaction is subject to City Council approval, and an ordinance is set to be introduced this week. The price and other details weren’t immediately known.