The potential new owner of your parking meters? ICE contractors
The future of Chicago’s parking meters is being met with continued controversy.
At the start of 2026, the current owners of Chicago Parking Meters — a consortium including Morgan Stanley, Allianz Capital Partners and the Sovereign Wealth Fund of Abu Dhabi — announced they were putting the meters back on the market.
Since then, private equity firm Stonepeak Partners emerged as the contract’s winner with a bid of $2.5 billion.
But the deal isn’t official yet, and alders have questions. Under law, City Council has to approve the sale of the parking meters.
A key road block for the desired owners of the coveted parking meters? The private equity firm’s involvement with the Department of Homeland Security.
In 2025, Stonepeak paid $3.1 billion to acquire Omni Air International, an airline contractor with the U.S. Department of Homeland Security. Since then, the company has provided transportation for dozens of deportations, many of which were third-country removals (see definition at the top of this newsletter). The company faces various allegations of wrongdoing, elevating concerns from City Council. An April investigation from Mother Jones surfaced allegations of human rights abuses and inhumane treatment, including carrying out flights that last longer than 24 hours.
While a Stonepeak representative said it’s looking to sell Omni Air and said alders should call out DHS deportation practices, at least one alder wasn’t buying it, Block Club reported.
“Again, I appreciate the bleeding heart right now,” said Ald. Andre Vasquez (40th). But “y’all weren’t doing that when you decided to buy it. So I don’t need it here.”
The mayor’s office also came under fire for attempting to buy back the parking meters in secret.
In January, discussion of the parking meters resurfaced when Mayor Brandon Johnson’s office explored what it could look like for the city to regain ownership, or at least assume more control over them. After exploring the potential costs of a buyback — as much as triple the original $1.15 billion price tag — Johnson reportedly passed on the deal, according to Crain’s Chicago Business.
However, alders later learned that the City secretly put forth a bid last fall, a whole $800 million over the asking price.
Despite questioning from alders, city lawyers claimed the bid was subject to a confidentiality agreement, refusing to share further details regarding the seemingly failed negotiations.
Current owners and Stonepeak are asking City Council to vote by July 24.
What you can do:
Contact your alderperson: Click here to find your alderperson and let them know your thoughts on the future of Chicago’s parking meters.
Attend a City Council meeting: Check for upcoming City Council meetings here at the Chicago City Clerk website. To learn more about how you can give public comment – in-person or virtually – at a City Council meeting, click here.
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