Chicago hourly parking to increase again in 2012

Chicago hourly parking to increase again in 2012

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Chicago’s street parking rates are scheduled for another increase starting Jan. 2.

According to Chicago Parking Meters, LLC, the price to park in the Loop will jump to $5.75 an hour. That’s up from $5 in 2011. Overnight parking will also increase to $2.85.

Hourly rates in business district outside of the Loop will go up to $3.50, and city’s neighborhood rate will go up a quarter to $1.75.

Workers are scheduled to start changing the meters downtown first, eventually getting to the neighborhoods.

Loop parking rates have nearly doubled since the city privatized its meters in 2008, while rates outside the city are up $1.50. They’re scheduled to continue going up through 2013.