CHICAGO – Illinois hopes to select a private partner to develop its estimated $1.1 billion share of the proposed Illiana toll road by next fall with the goal of closing on a finance package as soon as early 2015, a top state transportation official said Thursday.

The state has cautioned that it would not move forward without sufficient investor interest in its first public-private partnership that would offer the state an affordable option for building the road with limited risk. The estimated price tag includes costs for construction, right-of-way acquisition, utility costs, and tolling installation.

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