Sept. 6, 2013    Chicago's Midway Airport has been involved in complex lease negotiations for several years.  The city of Chicago, which owns the airport, had hoped to receive a $2 billion dollar upfront payment, plus millions of dollars in additional annual revenue, from leasing the airport to a private operator.

The bidding for the lease only produced two promising offers, and one of the bidders dropped their offer this week.  Rather than accept the remaining single bid from Great Lakes Airport Alliance, Chicago Mayor Rahm Emanuel has now suspended the lease process.

Midway Airport has long been considered the leading contender for a national airport named for President Barack Obama.  Midway is in President Obama's home town, or at least the city where his family owns a home and considers their permanent residence.  Plus, the mayor of Chicago, Rahm Emanuel, is a close friend of the President and served as the White House Chief of Staff for President Obama's first term of office.

Having the airport remain under Chicago city control might make it easier to rename the airport "President Barack Obama Airport", as a lease deal would presumably give a airport management company a great deal of control of such issues as naming rights. 

With the city council continuing to control the airport under the leadership of one of the President's closest associates, renaming of Midway Airport in his honor seems much more likely. 

Major facilities such as airports are generally not named or renamed for US presidents until they leave office, so it may be at least 2016 (or later) before we see how this plays out.  Of course,  President Obama received the Nobel Peace Prize before he even took office, so it would not be a huge surprise if precedent was also broken in this instance, and Chicago decided to rename the airport before the next national election.