IMHO public transportation should be privately owned anyways, oh wait, its not profitable.
I'd appreciate it if you could elaborate on this point-of-view more. Chicago's roads are constantly jammed as it is, so we have an efficiency issue. Aside from the occasional toll bridge, roads aren't profitable. Second, any time the CTA makes a penny in profit, people flip out. I've heard the CTA is legally barred from making a profit, but I can't cite that so we don't need to count it as a legal point. Third, public work pays less than private work, so in the end you've got less-skilled people needing to budget better for a best-case scenario of break-even. How's that supposed to work?
There are a host of factors that aren't directly measurable. No public transit means more cars and more money wasted in expanded roads, which directly creates more sprawl. In my experience, sprawl makes shopping and retail commerce generally a planned event. When I lived in suburbia, I needed a destination to go to the store. When I get off the 'L', I often just pop into stores that look interesting on my way home or to work. It also means more parking garages, which do create some revenue for a city, but the $3 the city collects in tax is likely not close to collecting property and sales tax from a business occupying the same area.
The 'L' moves 535,722 people on an average weekday (transfers factored out). Saturdays and Sundays (total) board 617,504 people on average. The Red Line is the line with the most riders (weekday: 50,042; weekend: 72,570). As of August 2009 at the North/Clyborn station, an 11.2% increase in weekday traffic has been reported over the last year. The average weekday now sees 4,242 people boarding, with Saturday and Sunday seeing 4,656 and 3,450 respectively.
I think the additional tax revenues a city enjoys by making sure public transit exists is justification for the subsidy of the system alone. Of course, I also live in the city and strongly prefer urbanization. I also think Apple got an insanely good deal that will prove quite profitable with direct access to the 29,316 weekly riders who get on at North/Clyborn already. I think we're all confident an Apple store will make this station a destination for more people (and thus, measurable boarding point).
Citation:
CTA Ridership Reports