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City, CTA get $28M windfall from skyway sale to Canadian pension funds

from Chicago Sun Times

Chicago taxpayers got a $28 million windfall from the sale of the Chicago Skyway by investors to Canadian pension funds for $2.8 billion — $1 billion more than the city’s take from a landmark privatization deal a decade ago. Mayor Rahm Emanuel signed off on the sale allowing the deal to close after the Spanish-Australian consortium that unloaded the Skyway and the three pension funds that bought it agreed to pay the city’s “real property transfer tax.” more

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