Chicago Parking Meter Information

Currently Street parking rates in Chicago are set up in 3 different zones.

Zone 1 – $1.50 per hour

Zone 2 – $3.00 per hour

Zone 3 – $5.00 per hour

Here is a link to some Chicago Parking tips.  The meter prices in Chicago are going up.  These Chicago parking meter prices stem from a parking meter contract the city of Chicago made with Chicago Parking Meters, LLC.  This is an entity formed by a consortium from Abu Dhabi and Morgan Stanley.  The parking meters are managed by LAZ but LAZ does not own them.  This is a common misconception.  This is beyond a hot a topic in Chicago because of the huge spike in street parking rates.  However, folks in Chicago had been addicted to city subsidized parking meter prices that were kept artificially low for too long.  Free parking isn’t free.  It costs A TON of money in maintenance and upkeep costs for all that road and curb where all those cars park.  That said, there were only 2 bids submitted for the contract of a 75 year lease and it looks like Chicago could have gotten over $1 billion MORE for it!

Searching for Chicago Metered Parking

You can search the Chicago Parking Meters, LLC website by address by clicking here.  Unless otherwise posted on the meter, you can park for FREE from 9pm to 8am.  Please check and read the meter carefully.  Some require them to be “fed” 24 hours a day or cut off at certain times (5am, 6am, etc.)  Make sure you read the posted signs carefully to be sure you can park there.

Want to avoid the meters? Park in a parking garage or private parking spot through Chicago parking website SpotHero!

 

Photo from Flickr