Vantage Airport Group to redevelop the Chicago Midway International Airport
May 12, 2017
75.00 Million USD
On May 12, 2017, Chicago Midway International Airport (the "Midway") officially began a three-year, $75 million modernization of the shopping and dining experience by bringing in 21 new food and retail brands, and several new amenities for the traveling public. The project is important to the City of Chicago as it is the first attempt at privatizing any portion of the Midway's operations since other efforts to privatize the terminal in both 2008 and 2013 were not successful. Phase 1 includes an overhaul of the existing concessions areas, stores and restaurants, to be followed by a major renovation to increase the concessions area by 26,000-square-feet for Phase 2, yielding a total of nearly 70,000-square-feet of concessions space at the Midway.
The project is being undertaken by Midway Partnership, comprised of Vantage Airport Group, SSP America and Hudson Group, the private partner of the Chicago Department of Aviation. This collaboration represents a partnership of industry leaders with extensive experience in the development, management and operation of the world’s leading airport commercial programs.
McCarthy Tétrault LLP advised Vantage Airport Group on all aspects of the transaction including the terms of its limited liability company agreement with its co-sponsors and a management services agreement with the project company. The McCarthy team was led by Jody Aldcorn, and included Pavan Jawanda and Ailbish Skinner.