Alternative Uses for Parking Spaces in Chicago and Elsewhere
After Streetline’s recent trip to PIE in Chicago, we learned about interesting uses residents were making of their parking spaces, beyond the obvious.
Parking spots are expensive in cities, often costing up to $80k in the most expensive areas. Often people without cars get houses or condos that come with parking spaces, due to outdated building codes. Owners and renters who don’t have a car look for alternative uses for their space.
According to the Chicago Tribune, the most common use is renting it to others. Many apartment dwellers either rent out their space directly to an individual on a monthly basis, often to a commuter who works near the renter’s apartment. Savvy people with parking spaces often use 3rd party apps to make the process easier and more convenient, so they can quickly rent out spaces for events like nearby football games.
A few individuals do even more with their space, from live in their garage while renting out their home, to transforming their garage space into an art studio. As parking spaces become more closely integrated with technology, their use and even their function can quickly be shifted to meet market demand. Expect to see parking spaces used in more diverse and even radicals use cases in the future.