News

Chicago suburb's govt. to get cut of ATM fees

March 4, 2004

ELMHURST, Ill. - Under an agreement approved this week, Elmhurst's city government will benefit every time someone uses an ATM at the Metra train platform in town.

In addition to receiving $500 monthly rent, the city gets 25 percent of ATM surcharges, according to a report in the Chicago Tribune.

The three-year pact begins April 1, followed by two one-year renewal options that call for a 5 percent annual rent increase.The city leases the property from Union Pacific Railroad.

Elmhurst's Suburban Bank & Trust won the sublease from among six banks vying to place the ATM along the station's west wall..

The City Council approved the agreement after receiving a recommendation from its Finance, Council Affairs and Administrative Services Committee, according to the Tribune.