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Yesterday, Chicago Transit Authority (CTA) officials marked the completion of a new station at Oakton Street and Skokie Boulevard, the first new station to open along the “L” rail system in 18 years.

The Oakton Station is now the second stop on the Yellow Line between Howard and Skokie terminal, CTA officials said in a prepared statement.

The $20 million project was funded with a $14 million federal Congestion Mitigation and Air Quality grant and $6 million from the village of Skokie.

“This joint effort resulted in a state-of-the art station and an additional, accessible station option for the expanding business and transportation needs of Skokie residents,” said CTA President Forrest Claypool.

CTA officials hope the station will help attract new ridership. Currently, the Yellow Line, which runs between the Dempster-Skokie and Howard stations, provides more than 5,000 rides daily and an average of more than 40,000 rides on weekends. Between 2010 and 2011, the Yellow Line added 13,000 additional riders, growing to an annual ridership of more than 1.5 million.

The station is located next to the Illinois Science and Technology Park, a 24-acre research campus that employs 1,400 people.