Parking Rates for Downtown Chicago

Parking can cost upwards of $50 a day in Downtown Chicago. The best thing to do is to look at the different options for parking. One of those options is through SpotHero, where you can compare prices of area Chicago parking garages, not just in downtown Chicago but many Chicago neighborhoods including River North and Wrigleyville. You can call 312-566-7768 for more info.

The average parking rate in Chicago is $34 a day. This does not include in and out. Many people ask, “Can I come and go as often as I’d like?”. The response is that you cannot in fact come and go whenever you’d like. This may seem like an incredibly greedy move from the parking companies, but don’t just jump to conclusions! This is absolutely a function of the parking tax structure in Chicago and has nothing to do with their business practices. The Chicago parking tax is a tiered system based on each period of time. See for example from the city’s website:

Daily Tax Rate:
$2 and under — no tax due
$2.01 – 4.99 — $1.00
$5 – 11.99 — $1.75
$12 or more — $3.00 (Saturday through Sunday) — $5.00 (Monday through Friday)

The kicker here, is that this tax is paid any time a car exits a garage. The means that the parking companies are required to pay each time you leave. This means that when you see a rate sheet for 12 hours of parking for $34, as soon as you leave the clock starts again. This all due to the parking tax structure in Chicago which because of it’s tiered nature affects the parking rates consumers are charged.

“But my Hotel valet lets me have in and out!”

Again, this is a licensing issue, which makes hotel valets different than a stand alone or self park garage. This licensing also affects the rate downtown Chicago parking rates. While the hotel valets do allow unlimited in and out, the average Loop and River North hotel valet is $55 for 24 hours. Convenience is great, but it does come with a price. While $55 may look outrageous it is much better than paying $30 each time you go in and out of a garage that isn’t a hotel valet. Make sure to distinguish the difference between a hotel valet and a valet garage. Just because it is a valet garage doesn’t mean it’s unlimited in and out either. Think about it too. There is a labor cost to have the convenience of a valet at that garage. Every time your car is parked it takes the valet time to retrieve your car in bring it to you. Then to demand that you want it to be parked again? Who’s getting greedy now 😉 ?

Compare Downtown Chicago Parking Prices and Garage Rates.

You can reserve parking in Chicago overnight, park all weekend specials among many others cheap chicago parking specials. If you have any questions please email info@spothero.com