Project Details

✔ Project has been published!

Results Chart for Delivery Method and Financing

Delivery Method

DBOM All Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: May 6, 2009

Project Name: Chicago Skyway (2004 Asset Monetization)
Year in Operation: 1958
Sector: Transportation
Subsector: Bridge, Roads
Status: In Operation
Type: Repositioning of Existing Facility
Description: Concession from the City of Chicago to a private sector company to operate and maintain the existing 7.8 mile Chicago Skyway for a period of 99 years.
Delivery Method as described in the country where it's located: Public Private Partnership
Is the project still active: Yes
Comments: Long term O&M of existing toll road through a 99 year lease.

Project Locations

Address:
City: Chicago
State: Illinois
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Land: Existing toll road.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): Toll revenues from existing road over length of the concession.
Checkbox Checked Environmental Clearance: Existing toll road.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: Assignment of existing toll revenues from public to private sector. Increased rate of tolling is established pursuant to the lease that is sufficient for the private sector to recover the cost of ongoing repairs, O&M during the concession term, and to recover the $1.83 billion payment made by the concessionaire to the City of Chicago at the beginning of the lease.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: $1.4 billion in senior bonds.

Checkbox Checked

From Producers as Equity

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? No
Project Finance Method: All By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
99
0
Forms
Description
Other
Negotiated 

Project Value (If and As Known)

Date of Estimated Project Value: November 1, 2004
Project Value
Hard Cost
Hard & Soft Costs

Project Value Unknown or not Provided

Warning!!!

You are about to delete: .

Confirm Deletion Cancel