Takeaways by Bloomberg AI
- A Morgan Stanley-led group has reached a deal to sell its lease of Chicago’s parking meters to New York-based Stonepeak, according to Mayor Brandon Johnson’s office.
- The transaction is subject to City Council approval, and an ordinance is set to be introduced this week, but the price and other details weren’t immediately known.
- The lease, which was sold to the Morgan Stanley-led group in 2008 for $1.15 billion, is 75 years and expires in 2084.
Bloomberg CityLab
By Miranda Davis
May 18, 2026