MAYOR LIGHTFOOT, CHICAGO DEPARTMENT OF AVIATION JOIN SECRETARY BUTTIGIEG TO CELEBRATE KEY MILESTONE IN O’HARE 21 PROJECT WITH FAA DECISION
to start construction on two new satellite concourses at O’Hare International
Airport — the new O’Hare Global Terminal that will replace Terminal 2 — and other associated projects Mayor Lori E. Lightfoot announced today at a celebratory event with Secretary Pete Buttigieg of the Department of Transportation (DOT), which oversees the FAA.
Environmental Assessment, which was released on Monday, Nov.21.
tunnel connecting passengers, baggage, and utilities between the O’Hare Global Terminal and the satellite concourses is anticipated to begin in 2024 with a construction completion date of 2030. All dates are subject to additional alteration as the extensive and challenging construction cycle begins next
year.
the timing of the development. The current capital program for O’Hare is approximately $12.1 billion, which accounts for current project estimates, escalated costs permitted under the 2018 agreement, as well as capital investments agreed to both since and prior to the 2018 agreement. The total budget for the TAP is currently estimated to be $7.1 billion, or 59% of the overall
capital plan.
it, with two recent upgrades from Fitch Ratings, and one from S&P
Global Ratings on the O’Hare General Airport Revenue Bonds and the Passenger Facility Charge Bonds. These are the first rating upgrades
for O’Hare in at least six years.
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