A group of developers who own property near the Route 59 Metra station are planning to meet with the city to discuss a plan to turn their land into between 170 and 180 commuter parking spots, which they will sell to commuters for $8,900.
The owners estimate that with a loan, the spots would cost an average commuter $30 a month, while the city charges $120 for residents and $145 for nonresidents every three months for a permit in its lot.
There is currently an estimated two-year wait for a permit at the Route 59 lot, and a 6 ½ and nine-year wait for a permit in the downtown lots.
With these factors in mind, do you think it makes sense to buy one of these spots if the plan is approved? Would you buy one? Do you think they will sell out, and if so, how quickly?