MarketChicago Express Loop
Company Profile

Chicago Express Loop

The Chicago Express Loop was a proposed privately funded urban rail transit rapid transit system that would have used underground high-speed rail to connect the Chicago Loop to O'Hare International Airport from Block 37. The line was to be constructed by Elon Musk's the Boring Company. It was claimed the Boring Company would pay the costs for the construction of the system in exchange for the rights to the future transit fees as well as advertisement, branding and in-vehicle sales revenues. Chicago Express Loop was the official name of the plan.

History
In May 2017, The Boring Company first became linked to the plan and made an official bid for the project in November 2017. The city's original request for proposal sought bids to bring the travel time from the loop to O'Hare below 20 minutes with departure frequencies of less than 15 minutes and fees that were lower than taxi and ridesharing company fares. The Boring Company was announced as the winning bid on June 13, 2018. == Proposed system ==
Proposed system
The proposed system was to use 16-passenger self-driving vehicles built on Tesla chassis, departing often as every 30 seconds. The proposed vehicles would move through tunnels at speeds as high as 150 miles per hour on a concrete track and complete the journey in 12 minutes, which was 3 to 4 times faster than existing alternatives such as the Chicago Transit Authority Blue Line. The proposed vehicles were referred to as skates and are based on the Tesla Model X. The vehicles would cover an track with eight guiding wheels, including four traditional grounded wheels and four additional side wheels. The fares were expected to be approximately $25. ==Criticism==
Criticism
The Loop's projected cost of $1 billion was derided by transportation scholars and journalists as being too low by at least a factor of 10 for its scale. The city's aldermen also raised concerns about project oversight and risk, fearing that public funds could be used to cover cost overruns. ==Notes==
tickerdossier.comtickerdossier.substack.com