birdwatcher: (Default)
[personal profile] birdwatcher
Chicago Sun Times -- In September, a company paid $190,000 for a taxicab medallion now operated by Chicago Carriage Cab Co. -- the most anyone has paid in Chicago.

That's a bargain compared with New York City, where a medallion sells for about $775,000.

"There's a solid demand for medallions from investors and operators,'' says Michael Levine, chief executive officer of Yellow Cab. "You look at a taxicab medallion vs. real estate or the NASDAQ, you do better with a taxicab medallion.