Elon Musk green-lit to build high-speed underground airport train in Chicago

The new rail line, or Chicago Express Loop, will see 12-minute trips in electric vehicles called "skates," from the airport's new terminals to the Block 37 super-station downtown. This trip usually takes approximately 30-40 minutes, whether by train via Chicago's Blue Line, or by cab, Uber or Lyft.

Skates will leave each station as frequently as every 30 seconds, operating 20 hours per day, seven days a week.

According to The Boring Company, fares have not been finalized, but "will be less than half the typical price of taxi/ride-share services, though higher than the Blue Line."

Passengers will hop into an eight to 16-seat vehicle travelling up to 150 miles per hour through The Boring Company's 12-feet-wide tunnels, sitting 30 to 60 feet underground. Single passenger vehicles will also be available, but no other information has been provided on this.

Each battery-powered electric skate has been based on the Tesla Model X, and will be mechanically confined to a concrete track. Each skate features a climate controlled cabin, luggage storage space, and Wi-Fi.

How much will this all cost? According to the Chicago Sun Times, The Boring Company says it can install the whole thing, including the new airport station and Block 37 renovation, for under $1 billion. The Boring Company says the project will be 100 percent privately funded.

The bid win doesn't come as a huge surprise, as Musk tweeted plans to work with the city of Chicago on the airport rail project in November, and made the bid for The Boring Company in February.