LESSONS LEARNED

•  The project demonstrates that public authorities can receive significant revenues from the monetization of its assets, but to maximize revenue and mitigate public opposition, the choice of asset to be monetized is important. The Chicago Skyway was an existing, well-maintained asset with established traffic patterns, yet it was a non-core asset for the City, users had alternative routes available to them, and only a small workforce was affected by the changes.

•  The receipts from some monetizations of assets are difficult to predict. There was a difference of more than US$1.3 billion among the three bids for this project.

• It is probably too early to conclude whether or not this project will be a long-term commercial success because, as with any real toll road, the ability to continue to increase tolls and maintain traffic is unpredictable.