Chicago is poised to appoint a financial adviser for the planned privatisation of Midway airport, the latest in a series of assets the city is leasing to balance its budget.

The city last year raised $1.82bn (€1.4bn, £960m) from the 99-year lease of the Skyway toll road linking Chicago with Indiana, and last week outlined plans to lease the largest underground car park in the US to the private sector in what would be the country’s first privatisation of a public parking system.