Chicago Skyway

Nature of the asset

The Chicago Skyway is a 12.5 km median-divided elevated roadway with a bridge over the Calumet River, connecting the Indiana Toll Road and the Dan Ryan Expressway in the City of Chicago. The Chicago Skyway has been operating since 1959 and has significant unused capacity. Alternative routes are heavily congested and, given the time savings offered by the Chicago Skyway, it is expected to capture an increasing share of the corridor.

Nature of the investment

In October 2004, MIG and Cintra (Spanish toll road company) were selected as preferred bidder for the Chicago Skyway toll concession. In January 2005, the consortium reached financial close and paid the City of Chicago US$1.83 billion in return for the exclusive right to operate the Chicago Skyway for 99 years.

In December 2006, MIG divested 50% of its interest in the Chicago Skyway to Macquarie Infrastructure Partners (MIP), retaining a 22.5% interest in the asset.

Length

12.5 kilometres

Number of lanes

3 lanes in each direction

Tolls

Cars: US$3.00 for cars

Trucks: US$1.80 per axle

Tolls are 40% higher for trucks between 4am - 8pm

Toll price escalation

A specified toll regime from 2008 to 2017, followed by greater of 2%, CPI or Nominal GDP per capita.

Toll collection

Cash and electronic

Concession end

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