The Port of Chicago will be privatized with a 62-year lease agreement between the Colorado-based Broe Group and the Illinois International Port District. Broe will invest $500 million in infrastructure repairs and upgrades at the port over the next decade. The deal "will reinvigorate a critical asset for our city," said Chicago Mayor Rahm Emanuel. "We are taking what was an underutilized, run-down port and turning it into an engine of opportunity."

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