Parking As An Investment

Its simple supply and demand. There are more cars than parking spaces, especially where you want to park. If you go to a place where there is plentiful parking for the taking, then you are lost and not in Chicago.

The parking space is a scarce commodity and it is very difficult, almost impossible,to add more parking in a city as dense as Chicago. So, if you can find a parking space to buy and call your own, buy it. It will always be in demand and will hold its value. And, depending on how long you hold it, you should be able to make a nice return on your investment.

Cost: The cost to park your car at the meter or in a garage is high now and destined to go higher. Its supply and demand again. Garage parking in the city averages about $32.00 per day and ranges from $250 to $450 for a monthly rate. Meter Parking is set to double in some areas and quadruple in others starting in 09. The cheapest youll pay is $1/hr and downtown that increases to $6.50/hr. Let that meter expire and it will cost you $50.00. Get two tickets and dont pay them and youll be booted. Cost to remove the boot is $200.00. And you still have to pay those tickets. So you can see that the true solution to your daily parking dilemma is to control your destiny and own your own parking stall. If you are a commuter paying $275 a month for parking, thats $3300 a year out the window. The average parking stall in Chicago goes or around $30,000. In ten years, it pays for itself. If you move in the meantime, you can either rent it or sell it through ParkingBroker.com.

Peace of Mind: This is hard to put a price on, but it is meaningful. If you can control your stress level and your time, that is worth something. I am going to venture that it is worth the price of buying that parking stall that will provide you both. I would also venture that the two biggest contributors to your stress level every workday are your commute and your boss. We can help you reduce 50% of your stress level with a parking solution. The only way we can help you with your boss is to sell him on the benefits of owning a parking stall too.

Future Prediction: We at ParkingBroker.com are not astrologists or palm readers. But, we can predict the future of parking. The United States is in a severe financial crisis and there is no source of state or federal money that will improve your bus, train or L experience in your lifetime. There are designated bicycle lanes now in the city. This only means something to you if you are under 25, will risk your life to prove your point and dont own a car. There is no alternative to the automobile for convenience, dependability and peace of mind. The automobile has to be stationary at either end of its journey. Control both ends of your journey and you can enjoy the ride. ParkingBroker.com is your partner in gaining Control.