Windy City's Taxicab Concessions
Friday, December 29, 2006
Chicago nets nearly $4 million from auction of taxi medallions
A sealed-bid auction of 50 taxicab medallions has netted the city of Chicago nearly $4 million, according to an article on Chicago Business online.
With winning bids falling between $77,000 and $81,000, well above the $60k minimum, the auction represents a revitalization of the tourist trade in the Midway. As a result of the downturn in travel and tourism after 9/11, medallion prices had fallen as low as $42,000 in 2001.
A sealed-bid auction of 50 taxicab medallions has netted the city of Chicago nearly $4 million, according to an article on Chicago Business online.
With winning bids falling between $77,000 and $81,000, well above the $60k minimum, the auction represents a revitalization of the tourist trade in the Midway. As a result of the downturn in travel and tourism after 9/11, medallion prices had fallen as low as $42,000 in 2001.
posted by Chris and Frank at 1:25 AM
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