CHICAGO—The U.S. Federal Aviation Administration has approved the city’s preliminary application to a pilot program to investigate the privatization/lease of Midway Airport.
The approval allows the city to move forward with issuing a request for qualifications (RFQ) for potential interested bidders in Midway Airport and test market interest, conditions and revenue generation possibilities for the potential lease of Midway. The city is contemplating a lease of the airport, the air travel option for Chicago after O’Hare International Airport, for fewer than 40 years. The proceeds will be used to pay off debt, and the city will retain ownership and receive a percentage fee that will grow over time. Bids are due Feb. 22. {Source: NREI Daily}
Judeh & Associates 