The new entrance under construction at the CTA’s Loyola Red Line station is taking shape quite nicely. The opening is completely framed out in brick, ready for installation of glass doors.
The $18 million project is a collaboration with Loyola University Chicago and the CTA. The university wants to eliminate a safety hazard caused by students crossing Sheridan Road right at the viaduct.
Loyola entered into a rent-free sub-lease agreement with the CTA to ensure that the plaza remains “public,” said a spokesperson. As part of this whole project, Loyola will install planters in the parkways on the east and west side of Sheridan and a new driveway will be constructed that essentially reconnects the grid of the Loyola Avenue-Sheridan Road corner.
It will be signalized and highly identifiable as the intentional crosswalk for pedestrians and the place to stop for vehicles. New left turn lanes will be installed to ease the flow of traffic.
Total construction cost is approximately $11 million in federal, CTA and private money. Additionally Loyola spent $3.5 million to acquire the land, buy out retail tenants, demolish the old buildings, and pay other incidentals. Finally there is an estimated $3.6 million direct loss of revenue from removing retail tenants and creating a public plaza.