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Chicago secures global settlement in parking meter dispute, eliminating exposure in excess of $300 million

May 2025

Client(s) City of Chicago

Jones Day secured global settlement for the City of Chicago, resolving all existing disputes with Chicago Parking Meters, LLC ("CPM") at a fraction of the alleged damages. CPM claimed it was entitled to over $360 million due to alleged breaches of the agreement that governs CPM's 75-year interest in operating Chicago's parking meters. The disputes started with an arbitration and ended with an award of $2 million, return of certain parking spaces, and a $15 million settlement payment representing some, but not all, of the revenue generated for the City by those spaces during the pendency of the dispute. The settlement paves the way for improved parking enforcement while protecting the City's interests in a highly sensitive public-private partnership.

Chicago Parking Meters, LLC v. City of Chicago, Department of Finance, Consolidated No. 02-22-0003-3792 (AAA)

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