I am expanding on an item I wrote early this year about the costs of medallions. (This earlier note is at http://www.hgchicago.org/rn06.html) I have two questions which I hope can be answered here:
(1) What is the approximate cost to purchase a new taxi, just the cost of the vehicle? (I want to compare this to the 1991 cost, but unless somebody remembers what cabs cost in 1991 I will just use average inflation in costs of autos).
(2) Early this year Chicago medallions were reported to cost $77,000. Looking at the ads at cabmarket.com, prices seem to be higher now although it's not clear how high. Can anyone advise me on what medallions are actually sold for in November '07?
