Illinois Statutes Chapter 35. Revenue § 200/15-125. Parking areas

(a) Parking areas, not leased or used for profit other than those lease or rental agreements subject to subsection (b) of this Section, when used as a part of a use for which an exemption is provided by this Code and owned by any school district, non-profit hospital, school, or religious or charitable institution which meets the qualifications for exemption, are exempt.

(b) Parking areas owned by any religious institution that meets the qualifications for exemption, when leased or rented to a mass transportation entity for the limited free parking of the commuters of the mass transportation entity, are exempt.

(c) Parking areas owned by any religious institution that meets the qualifications for exemption, when leased or rented to a municipality for the purpose of providing free public parking, are exempt, so long as the lease is for no more than nominal consideration. For purposes of this Section, maintenance and insurance of the parking areas by the municipality shall be considered nominal consideration.

(d) Parking areas that are owned by a non-profit trust fund, a non-profit labor union, or a 501(c)(2) entity controlled by a non-profit trust fund or non-profit labor union and that are used primarily for parking for an educational trade school described in Section 15-37 are exempt.