Pitchfork

Looks like we're in for five more festival-filled summers here in Chicago. Yesterday, Lollapalooza's organizers signed a contract with the city to hold their annual extravaganza in downtown's Grant Park through 2011. In exchange for the privilege of bringing boatloads of bands to the beautiful lakefront location, Lollapalooza will pay five million dollars to the Chicago Park District's Parkways Foundation, reports the Chicago Sun-Times.

The money will go towards "our ability to fund new projects, youth programs and greening initiatives throughout Chicago's parks," according to a quote from Parkways Foundation president Laura Barnett in a press release.

The 2007 festival will take place August 3-5, and according to the Sun-Times, may include up to 15,000 more people allowed per day, bringing the daily total up from 60,000 to 75,000, if the event sells out. That's a lot of Porta Potties.