Parkers can take solace knowing their average unreserved parking rate of $263 per month is topped by four other markets--Midtown and Downtown Manhattan, Boston and San Francisco. Nationally, rates for unreserved parking spaces increased 3.5% last year, according to vice president and director of research Ross Moore.
"Monthly parking contract rates typically respond to economic conditions and reflect the Downtown office market and parking-facility construction activity," says president and chief executive officer David R. Kahnweiler, SIOR. "The availability of parking in Chicago was rated as 'limited' by the owners and third-party operators surveyed."
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
