Two years ago metered street parking in the Loop, was $3 per hour and as little as 25 cents an hour for some neighborhoods. The recent increases make street parking in the loop $5 an hour. There are three zones for Chicago parking meters.
These are the new rates
Zone 1 – Chicago Loop -$5 an hour
Zone 2 – North Ave, Halsted, Roosevelt Borders – $3 an hour
Zone 3 – Everwhere else, $1.50 an hour
Official rate changes go into effect January, 2, 2011. However, Chicago Parking Meters LLC stated it could take over a month for all the rates to change at all the pay boxes. These changes effect approximately 36,000 spaces.
Keep watch as the Loop rates are set to rise to $6.50 an hour by 2013.
Happy New Year Everyone!