My father has bad knees and can't walk far or stand long.....is it a long walk from parking to the actual street where the parade is? Are there any benches to sit on? If not, thinking a restaurant may be the best bet for watching.

Yes a restaurant would be the best option. The main street is driveable so you could drop him off curb side and then park and walk back up.

Please note the street is very uneven. More like brick. So be careful about that. The parade is very short.

At the east end of Exchange street near the staircase for Armour and Swift is a parking lot with reasonable daily rates. It is a short walk from there to the restaurants and the outdoor seating at Riscky's offers a good view.