Walter Parazaider (born March 14, 1945) is an American retired woodwind musician who is a founding member of the rock band Chicago. He is best known for being one-third of Chicago's brass/woodwind section alongside Lee Loughnane and James Pankow. Parazaider is a multi-instrumentalist. He plays a wide variety of wind instruments, including saxophone, flute, and clarinet. He also occasionally plays guitar.

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