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TIL that in 2008, Chicago leased its 36,000 parking meters to a UAE-backed private consortium for 75 years for a $1.15 billion payout. The investors made their entire investment back in just 10 years, and are now projected to make over $11 billion by the end of the lease in 2083.
In 2008, Chicago leased its 36,000 parking meters to a UAE-backed private consortium for 75 years, yielding significant profits and controversy.