Privatization of the Chicago Underground Parking System


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 successful bid for the 99 year lease concession for the Chicago Underground Parking System. The four garages which make up the system contain a total of 9,178 parking spaces. DESMAN projected the impact of changes in parking demand and operations on the revenue and expenses of the parking system overt the lease period. The study focused on two primary types of changes; short-term and long term. The short term changes reflect revenue enhancements and operational efficiencies while long term trends reflect area growth patterns and underlying inflation growth. Following Morgan Stanley's successful bid, Desman became the technical advisor to Société Générale the major lender.

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Featured Project

Third Ave

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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