Morgan Stanley Group to Sell Chicago Parking Meters to Stonepeak
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 on Monday.
The two parties have signed a purchase and sale agreement, according to a spokesperson for Johnson. 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.