Via the Illinois Tollway Authority:
State and local officials late last week kicked off a project for a new all-electronic toll collection exit ramp from the northbound Tri-State Tollway to Balmoral Avenue.
The partnership between Rosemont and the Illinois Tollway Authority means the village will spend up to $26.5 million on the project, while the tollway will “reimburse the village for up to half of the cost of the project through tolls collected at the new ramp over the next 25 years.”
A new Balmoral exit will not only provide an alternative to the congested River Road exit, it will also provide new access to the Stephen’s Convention Center and its parking lot, The Rosemont Theater and dozens of hotels, as well as the new entertainment district, The Park at Rosemont and a new retail outlet shopping mall planned for construction immediately adjacent to the exit.
The Balmoral ramp is also expected to offer regional transportation benefits for Tollway users in the surrounding area, including better access to O’Hare Airport especially on the nearby I-190 feeder. Close proximity to Rosemont’s Metra commuter rail station and the Rosemont CTA rapid transit Blue Line will also mean greater conveniences to the public.
Local business representatives are upbeat about what the new ramp means to the area. “It’s just going to be easier to eat, shop and enjoy Rosemont and the surrounding area for the millions of people who visit,” said Pam Hogan, Director of the Rosemont Chamber of Commerce. “We’re very excited.”
Lorig Construction Company was awarded a $14.2 million contract for the project. The project also includes improvements to Balmoral Avenue bridge and to the southbound entrance ramp from Balmoral Avenue to the Tri-State Tollway. Six companies competed for the job, and bids came in well below expectations. Construction is expected to progress quickly, with completion by the end of 2011.