Nature of the asset

Skyway is a 12.5 km median-divided elevated roadway with a bridge over the Calumet River, connecting the Indiana Toll Road and the Dan Ryan Expressway in the City of Chicago. Skyway has been operating since 1959 and has significant unused capacity. Alternative routes are heavily congested and, given the time savings offered by Skyway, it is expected to capture an increasing share of the corridor.

Nature of the investment

In October 2004, MIG and Cintra (Spanish toll road company) were selected as preferred bidder for the Skyway toll concession. In January 2005, the consortium reached financial close and paid the City of Chicago US$1.83 billion in return for the exclusive right to operate Skyway for 99 years.

In December 2006, MIG divested 50% of its interest in the Chicago Skyway to Macquarie Infrastructure Partners (MIP), retaining a 22.5% interest in the asset.

Asset map