SP+ Commences Management of Largest U.S. Underground Parking System

Millennium Garages

Chicago’s Millennium Garages Contain Over 9,000 Spaces, 3.8 Million Square Feet

SP+—the largest parking company in North America—now operates the 3.8 million-square-foot parking system containing 9,176 parking spaces spread throughout four garages. The garages are located underneath Chicago’s Millennium, Grant and Maggie Daley Parks.

As the largest underground parking system in the United States, the Millennium Garages offer customers convenient, easily-accessible parking located near a multitude of restaurants, hotels, theaters, universities, offices, retail shops, cultural venues and tourist attractions, as well as large-scale events that include concerts, sports and seasonal festivals such as the Taste of Chicago.

“The Millennium Garages serve an exceptionally large number of City destinations whose customers want convenient, efficient and safe spots to park their cars. That’s our specialty and we’ll spare no effort to make sure that all our Millennium Garage parking patrons are completely satisfied with their parking experience,” commented Marc Baumann, President and Chief Executive Officer at SP+.

SP+ previously operated these parking garages for the City of Chicago and the Chicago Park District from 1993 to 2006, when a parking concession went into effect. Millennium Parking Garages LLC (MPG), a joint venture between Northleaf Capital Partners and AMP Capital, purchased the concession interests in May 2016 and selected SP+ to take over operations effective September 16, 2016.

Dylan Foo, Director of MPG, said: “We are pleased to have partnered with SP+, one of the preeminent parking operators in the country. Their previous role as operator of the garages, together with an extensive Chicago presence and shared vision of the facilities, make them an ideal partner.”