The board of directors of the Illinois Tollway has agreed to proceed with planning for a $4bn rebuilding project on the Central Tri-State Tollway (I-294) between Balmoral Avenue and 95th Street.
Plans for the project include the reconstruction of roadway and improvements to bridges on the 22-mile-long portion of the I-294, as well as construction of additional lanes, and interchanges improvements.
The project will also include the provision of stormwater solutions, and consideration of additional noisewalls and new truck parking.
The project will not require an increase in current toll rates for funding. It will be financed through additional bonding in 2023 and 2024 supported by incremental revenue from additional lanes on the Central Tri-State, and lower debt service for bonds already issued.
Bob Schillerstrom, Tollway Board chairman, said: “A year ago, we asked Tollway staff to rethink plans for a short-term fix that would rebuild the Central Tri-State Tollway as it is, and instead, take a critical look at existing and future needs that we could address as part of our construction.
“I’m pleased that the concepts presented today, provide the long-term vision we were looking for to guide our planning as we work to deliver a truly innovative and forward-thinking roadway to better serve our customers and the regional transportation network.”
The next steps in the project will be for Tollway staff to work with stakeholders, customers, communities and their residents along the corridor to deliver a master plan for $2.1bn in additional improvements to complement the $1.9 billion rebuilding project already approved for the Central Tri-State Tollway project.
* Data provided by Timetric's Construction Intelligence Center.