Standard Parking Facts

Yes, it is true, that as urban congestion grows, parking will remain a premium. There are, of course, downsides, i.e., the cost of capital improvements, and repair, on the parking structure. For, example, they own, not lease, garages, in large high-rise structures, built back in the 60s & 70s. They are literally money pits in repair and maint. They run at barely break-even point on these accounts. LSD and Sheridan Rd. residences in Chicago are generally all Standard Parking. They have tried to focus on their mgt. contract business (just managing your garage), and selling off their old structures, while keeping the contract. Good business. Sensible and smart people to deal with at the mgt. level. I am on a board who bought their garage, and kept the mgt. contract, with STAN, and have a new appreciation for their financial prowess. They gouge you at the gate, and reap the profit. Nice for the stockholders, I'd say. Buy!