Parking Meter Rate Changes Begin Today

Downtown meters, which currently charge $3.50 per hour will increase 75 cents to $4.25 per hour. In areas like the Gold Coast and Lincoln Park or areas just outside of downtown, meters which are currently $2.00 per hour will go up 50 cents to $2.50 per hour. And in all other areas, where meters currently charging $1.00 an hour, will now be $1.25 per hour.

While this increase is on average, a 25% increase, it's a 500% increase 12 months ago when meter rates were substantially lower before the city leased it's 36,000+ metered parking system to CPM for 75 years for $1.16 billion dollars in December 2008.

The concession contract calls for rate increases for the first five years of the agreement, with potential cost of living increase after that.

Expect that the city's most expensive metered spots, located downtown in the central business district, will all be changed by the end of the day Monday.

LAZ Parking work crews, the operational partner for CPM, will have 10 teams of two people working outward into the neighborhoods over the course of the next week or so to complete the job as rapidly as possible.

While CPM publicly claims they will have all 4100+ pay boxes and 600 or so traditional single-space meters converted to reflect the new, higher rates by the end of the month, expect that this process should go much faster than that. Most, if not all meters should be changed by January 15th.

Although there may be some confusion in this transitional period, just make sure you read the rate information posted on all the pay boxes and meters. But also check the digital readout on the pay boxes and your meter receipt against the posted information to make sure you are paying the posted amount and/or don't pay for enough time.

If there is a problem or discrepancy with a pay box or meter, contact the customer service hotline for CPM at 877-242-7901 or report the problem at the company's website.

EDITOR'S NOTE: If you're up early enough Monday morning (after 6:40 AM) you can catch the Parking Ticket Geek discussing the meter rate increases with Bob Sirott on WGN Radio 720 AM.