CHICAGO – Chicago paid $3.5 million in fees and expenses to lawyers and other advisors on its aborted plan to privatize Midway International Airport, according to the city’s Chief Financial Officer Lois Scott.

Chicago Mayor Rahm Emanuel earlier this month pulled the plug on privatization plans for Midway under a federal pilot program after one of only two remaining bidders dropped out, raising concerns that the lack of competition might erode the deal’s value. Scott said the spending on advice was well worth it.

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