Chicago Skyway lease (2005)
Chicago leased its 7.8-mile Skyway to a Cintra-Macquarie joint venture for 99 years in exchange for $1.83 billion. It was the first major privatization of an existing U.S. toll road.
The lease gave Chicago a large cash infusion without raising taxes.
Established the U.S. toll concession model that Tennessee's I-24 deal extends, and marked Cintra's early entry into the U.S. market.
Also involved Cintra. The Skyway showed the template for states and cities monetizing highway assets through long-term private operation.
