Park Place: Park Place was indeed named for a park, but that park is now gone, built over by commercial enterprise. Today, Park Place is a small stub of a road adjacent to Brighton Park. Fun fact: Park Place is one of the least landed-on spots in the game.
Monopoly is a board game that originated in the United States in 1903 when American anti-monopolist Elizabeth (Lizzie) J. Magie Phillips created the game as a way to demonstrate that an economy which rewards wealth creation is better than one in which monopolists work under few constraints and through which she hoped to be able to explain the single tax theory of Henry George. It was intended as an educational tool to illustrate the negative aspects of concentrating land in private monopolies.
In Monopoly, players move around the game-board buying, trading, or selling properties, developing their properties with houses and hotels, and collecting rent from their opponents, with the goal being to drive them all into bankruptcy, leaving one monopolist in control of the economy.
Patented in 1904, The Landlord's Game, was self-published, beginning in 1906. Cardboard houses were added and rents were increased as they were added. Phillips again patented the game in 1923. Atlantic City-based street names can be traced to Ruth Hoskins. She had learned a version of the game in Indianapolis, and upon moving to Atlantic City in 1929, made her own copy from scratch naming properties after streets where her friends lived. On February 6, 1935, Parker Brothers began selling Monopoly in its familiar 4x10 space-to-a-side layout. Since the board game was first commercially sold, it has become a part of popular world culture, having been locally licensed in more than 103 countries and printed in more than thirty-seven languages. [https://en.wikipedia.org/wiki/Monopoly_(game)]