Buffer the lines a sufficient distance to always fill the gap / overlap with the parcels. Use Remove Overlap (multiple) to fix buffers that overlap buffers. Use Erase to fix the overlaps with the parcels.
There is the Collapse Dual Lines to Centerline tool which kind of does this but you would have to do a lot of work upfront for it to work well. Less work would be needed if you had something like a polygon layer of pavement, or perhaps event right of way..
[EDIT: I read your post the reverse of what you want- I thought you wanted to extract centerlines from parcel polygons]
Buffer the lines a sufficient distance to always fill the gap / overlap with the parcels. Use Remove Overlap (multiple) to fix buffers that overlap buffers. Use Erase to fix the overlaps with the parcels.
roads are a lack of parcels, so dissolve the parcels and cookie cut them through a "pizza" dough polygon, then split as needed to meet your pavement management system crew's street maintenance needs
