Privatization

Privatization of Chicago Midway Airport

MidwayAirportPrivatization__ChicagoIL

Description: Working with Morgan Stanley and the rest of the team, DESMAN provided due diligence efforts and technical advisory services in support of Morgan Stanley's bid for the 99 year lease concession for Chicago Midway Airport (MDW). The airport’s parking infrastructure includes over 13,500 spaces in four areas. DESMAN analyzed potential revenue growth related to two basic factors: rate increases and revenue enhancements. Potential revenue enhancements for MDW include rate-restructuring, the expansion of premium parking services and advertising. Other factors which were considered and analyzed as part of the revenue projections include long-term revenue growth, the growth of alternative modes of transportation, increased enplanements and competing parking facilities. Capital expense estimates for the repairs and maintenance of all Midway parking facilities were prepared. An overall assessment of the legitimacy and accuracy of the Sponsor's financial analysis and assumptions related to revenue enhancements and future expenses were reviewed.


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Featured Project

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Third Avenue Parking Garage Restoration

DESMAN provided restoration services on this 6 Level structure. The structure consists of cast-in-place conventionally reinforced concrete floor slabs supported by cast-in-place conventionally reinforced concrete beams and columns.

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