The Real Deal Chicago

Park N’ Fly acquires 10-acre lot near Midway

The subsidiary of the Netherlands-based BCD Group secured a $14M loan
By Alex Nitkin |
Research by Laura Hanrahan
June 13, 2018 12:11PM

Midway Airport and BCD Group CEO Joop Drechsel

A subsidiary of the Dutch travel company BCD Group bought a 10-acre property near Midway International Airport for a Park N’ Fly commuter lot, according to Cook County property records.

Park N’ Fly, a subsidiary of BCD that is headquartered in Atlanta, signed a $6.2 million deed for the lot at 6200 West 47th Street, records show. The property had previously belonged to the locally-operated Midway Park Ride & Fly.

On the same day it bought the lot, Park N’ Fly also took out a $14 million loan from Fifth Third Bank.

No plans for the space appear to have been filed with the city’s buildings department.

Park N’ Fly lists 15 parking lot locations across 14 cities in the U.S. and Canada, not including Chicago. BCD Group’s other three subsidiaries — BCD Travel, Travix and Airtrade — span 109 countries and raked in about $28 billion in global sales last year, according to the company’s website.

A spokesperson for Park N’ Fly did not immediately respond to a request for comment Wednesday.