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Chicago, Illinois -- Tuesday, February 12, 2019

Ercan Ceylan, a taxi driver originally from Turkey, poses for a portrait inside of his vehicle.

Chicago taxi medallions, now worth about $25,000, were once valued at nearly $400,000. The market's crash and predatory loans caused many medallion owners to declare bankruptcy in a situation made worse by the introduction of ride share apps like Lyft and Uber to the market.

CREDIT: Alyssa Schukar for The New York Times
30230061A

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Alyssa Schukar
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Chicago, Illinois -- Tuesday, February 12, 2019<br /> <br /> Ercan Ceylan, a taxi driver originally from Turkey, poses for a portrait inside of his vehicle.<br /> <br /> Chicago taxi medallions, now worth about $25,000, were once valued at nearly $400,000. The market's crash and predatory loans caused many medallion owners to declare bankruptcy in a situation made worse by the introduction of ride share apps like Lyft and Uber to the market.<br /> <br /> CREDIT: Alyssa Schukar for The New York Times <br /> 30230061A
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