Nov. 18--Mayor Rahm Emanuel's administration is seeking a $21 million transfer tax payment if the sale of the Chicago Skyway's operator goes through.
Three Canadian pension funds have agreed to purchase the operator of the Southeast Side toll road for $2.8 billion from a group led by Spain's Ferrovial.
In a letter this week to the CEO of Skyway Concession Company LLC, city Chief Financial Officer Carole Brown argued that the city's real estate transfer tax would apply to the sale. If the final sale price of the Skyway is $2.8 billion, the total payment to the city would be up to $21 million depending on how the transaction is structured, city spokeswoman Molly Poppe said.
The Chicago Transit Authority, Cook County and the state also would be in line for transfer tax payments, Poppe said.
In 2005, Mayor Richard M. Daley leased the Skyway to an Australian-Spanish consortium for 99 years for $1.8 billion.
jebyrne@tribpub.com
