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CHICAGO (WBBM) - Parking in downtown Chicago is expensive, but you can save you money if you're willing to walk a stretch from your car to your destination.
A Colliers International parking-rate survey puts the median price for daily downtown Chicago parking at $30, 20 percent higher than in 2005. Prices will go up more next year if the City Council passes a proposed 75 cent increase in the city parking tax.
But a Chicago Sun-Times survey of parking, in a larger downtown area, finds a median rate of $24 for daily parking with 12-hour prices ranging from $9 dollars to $50.
In general, parking is cheaper further away from the central business district, but there are some bargains close to the heart of downtown.
The president of the National Parking Association tells the Sun-Times that Parking is one of the purest forms of supply- and-demand business and prices can change from block to block.
If you think Chicago parking is expensive, try parking in London. The Colliers International survey finds you'll spend more than $68 a day, on average, to park your car in London.
Get full details of the Colliers survey of parking rates in the world's financial centers HERE.
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