The station is part of $92 million in overall transportation investments, including the rehabilitation of the Roosevelt and Harrison stations on the Red Line and the 18th Street Connector, which will revitalize the near south side of the city.
"We are making a comprehensive investment in the CTA and this investment includes building a new station to serve McCormick Place and the surrounding area," said Chicago Mayor Rahm Emanuel. "We are improving our infrastructure to brighten our economic future. You cannot have a 21st Century economy sitting on a 20th Century economic infrastructure."
The 18th Street Connector, which carries Orange Line trains to and from the Loop, is undergoing $25 million in renovations and the Harrison street station ($10 million) and on Roosevelt Road ($7 million) are also being improved.
"The new Cermak-McCormick Place station will offer a convenient transit option for commuters, residents, employees and visitors and, at the same time, help support economic development well under way in the community," said CTA President Forrest Claypool.
The future Green Line station at Cermak will be the first station at that location since 1977. This new station fills in a major gap in CTA service that has existed at McCormick Place since the station was demolished.
The Cermak station will be the 146th CTA station. The construction project is being managed by the Chicago Department of Transportation and is expected to be completed by the end of 2014. The station will be located near the intersection of Cermak Avenue and State Street and directly west of the McCormick Place convention center.
The station is financed with $50 million in Tax Increment Financing funds and will include three entrance points, one on each side of Cermak Road and one at 23rd Street. The main station building will be built on the north side of Cermak road, equipped with modern amenities, such as elevators, bike racks, security and enclosed boarding platforms.