$40 Monthly Parking in Chicago?!

Yes, this is true and it does exist!  Monthly parking in Chicago averages $289 for an "unreserved" (parking in any open spot) and $400 for a reserved spot.  So where does $40 monthly parking come into the picture?  First we have to look at how the monthly parking tax structure works in Chicago.  Don't worry, it'll only take a second.  Below is the following Chicago monthly parking tax structure.  **Note this is only the Chicago Monthly parking tax and does not include Cook County parking taxes.

Monthly parking rate      Chicago tax rate

$40.01 - $99.99                        $20.00

$100.00 - $239.99                    $35.00

$240.00 - $299.99                    $90.00

$300.00 - $399.99                   $110.00

$400.00 or more                      $120.00

 If a parking spot is sold for $40 a month there is zero parking tax.  At $40.01, this tax rises to $20!  That is nearly 50% for a parking spot sold at $40.01.  Because of this tiered system you'll rarely see monthly parking options priced between $40 and $128.99.  Ok, back to the $40 monthly parking in Chicago :)

Many garages in Chicago offer a special nights and weekends only monthly parking option for $40.  

The ways this works is you get a key fob which is programmed to allow parking only after a specified time Monday through Friday, and all day on Saturday and Sunday.  For example, a garage can offer Monday through Friday parking after 5pm everyday and you can park overnight until 8am the next morning.  This also includes 24 hour access on Saturday and Sunday.  So where can you find garages that offer this?  Check out the list below of some known garages that offer $40 a month night and weekend parking.  This is subject to availability.  This is not a complete list, so if there is a garage near you that isn't on here, don't worry.  You can always contact them to see if they have this as an option.  Check out the options below broken out by neighborhood.

Downtown Chicago/ Chicago Loop

  • Franklin Lake Self Park - 180 N Franklin
    $40 M-F (3PM - 8:30AM) + All Day Saturday and Sunday
    Contact: 312-201-1760
  • Washington Franklin - 230 Washington
    $40 M-F (2PM – 9AM) + All Day Saturday and Sunday
    Contact: 312-236-2600
  • 500 W. Monroe
    $40 M-F (3PM - 8:30AM) + All Day Saturday and Sunday
    Contact: 312-559-1848
  • 55 E Jackson
    $40 evening rate, after 4pm out by 9am
    Contact: 312-819-5074
  • 225 W. Wacker
    $40 evening/weekend monthly parking rates
    Contact: 312-819-5074
  • The Poetry Garage - 201 W. Madison
    $40 M-F (2PM – 9AM) + All Day Saturday and Sunday
    Contact: 312-960-0700
  • 210 North Wells Self Park
    $40 M-F (3PM – 8AM) + All Day Saturday and Sunday
    Contact: 312-263-1535

South Loop

  • 9th and Wabash- 835 Wabash
    $40 evening rate, after 4pm out by 9am
    Contact: 312-819-5074

Lake View Neighborhood

  • Webster Place- 1435-71 Webster Place at the Shapespear lot
    $40 In after 4 and out by 7am seven days a week. 
  • Contact: 312-819-5074

As you can see, there are quite a few of these monthly rates available across the city.  Even if your desired garage is not listed, it's still quite possible they have spots like this available.  It doesn't hurt to ask!  While this is quite common, it doesn't exist at every garage.  

Happy parking!


Mark Lawrence is a Chicago resident born and raised and the Co-Founder of the website SpotHero.com for Chicago Parking.