CHICAGO (WBBM NEWSRADIO) — The Chicago Community Development Commission has given the OK for the City to sell 18 acres of property to the Chicago Transit Authority (CTA) for the planned extension of the Red Line.
The land includes three dozen lots, which would be sold to the CTA for $1 with City Council approval.
Officials said the land would be used for the 5.5-mile extension between 95th and 130th Streets.
Plans call for new stations at 103rd Street, 111th Street, Michigan Avenue and 130th Street.
The City Council approved a new Tax Increment Financing District to pay for part of the project.
The total cost is estimated at more than $3.5 billion.
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