Case Study: Lincoln Park Plaza Garage – Full-Service Parking Transformation for a Mixed-Use Property

Lincoln Park Plaza, located at 600 & 586 West Diversey Parkway, Chicago, IL, is a large, mixed-use residential and commercial property in Chicago’s Lincoln Park neighborhood. The property includes two distinct garages:

• Public Garage at 600 W Diversey Parkway (229 spots)
• Private/Residential Garage at 586 W Diversey Parkway (39 spots)

The management team turned to ParqEx to completely modernize their parking operations—improving access, generating revenue, and boosting security for public and resident-facing parking assets. Keep reading Lincoln Park Plaza garage’s case study to see a full-service parking transformation for a mixed-use property!

THE SITUATION

Before ParqEx, Lincoln Park Plaza faced multiple challenges that they had a hard time addressing:

• Underutilized public parking assets
• No clear monetization strategy for transient or long-term parking users
• No enforcement technology or streamlined access control system to enforce parking and reduce unauthorized parking access
• Frustrations from residents over unregulated internal parking

THE SOLUTION

ParqEx deployed a full-stack parking technology suite across both the public and private residential garages, including:

✅ Marketplace – ParqEx helped Lincoln Park Plaza list and monetize underused parking on the ParqEx parking platform, making those spots readily accessible to those wishing to make an online parking reservation at the location.
✅ Access+ – ParqEx’s Access+ Premium LPR technology elevated the technology for parking operations and provides a touchless, secure access through license plate recognition (LPR) for only pre-approved license plates.
✅ Enforcer – ParqEx equipped staff and enforcement teams with the ParqEx Enforcer App, giving staff the tools to monitor and manage parking violations.
✅ Internal Tenant Management – To facilitate the management of long-term tenants and the internal assignments, ParqEx provides Lincoln Park Plaza access to their internal tenant management system, simplifying permit parking, parking zone management, and parking assignments.
✅ Real-Time Reporting Dashboard – The final addition to this stack of ParqEx technology is its real-time parking insights and analytics dashboard, which gives the client complete transparency and control of their property.

THE RESULTS

Public Garage – 600 W Diversey Parkway

• 💰 $585,994.91 in total revenue since launch in October 2023
• 🚗 7,973 reservations completed through ParqEx
• 📈 76% current occupancy with 229 listed spots
• 📊 +39% increase in long-term average transaction value over the past year
• 📦 97.14% of bookings are monthly – showing strong repeat business
• 📅 Over $50,000+ monthly in recurring revenue in peak months
• 📉 Weekly revenue fluctuation, but still outperforming pre-ParqEx projections

Private/Residential Garage – 586 W Diversey Parkway

• 💰 $85,209.20 in internal user revenue since Oct 2023
• 🔒 100% of current usage is by long-term renters
• 🧑‍💼 61 renters managed through the Internal Tenant platform
• 🚗 24 real-time parkers, with a 62% occupancy rate
• 🔄 +5% growth in reservations in the last 90 days
• 💡 All access is fully automated via Access+ & LPR

TESTIMONIAL

“Since partnering with ParqEx, we have completely transformed our parking operations and have increased our revenue stream exponentially. In doing so, we have also eliminated the daily operational headaches and now ParqEx support provides an easy-to-manage experience for our customers and onsite staffing.”
— Sean Drumgoole – Community Manager, Lincoln Park Plaza

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THAT’S A WRAP!

With the power of ParqEx’s tech-driven parking solutions, Lincoln Park Plaza went from underperforming parking lots to high-performing, revenue-generating assets. Through smart monetization, robust access control, and real-time enforcement tools, ParqEx helped the property achieve:

• Over $670K in combined revenue
• Occupancy optimization at 76% (public) and 62% (private)
• Data-driven decision-making through live dashboards
• Seamless, LPR-based access for tenants and the public
• Real ROI through operational cost savings and recurring income

Thanks for reading our Lincoln Park Plaza case study highlighting ParqEx’s full-service parking transformation for a mixed-use property! If Lincoln Park Plaza’s success makes you think your property could benefit from ParqEx, do not hesitate to contact a ParqEx sales representative. We specialize in tailored, property-specific parking solutions.

📞 Contact ParqEx
To explore how your property can replicate the success of Lincoln Park Plaza:
www.parqex.com | sales@parqex.com | (855) PARQEX-1