The city acquired 1.8 acres of land along the Chicago River near West Devon Avenue and McCormick Boulevard to expand an existing park in the city's West Ridge neighborhood.
City officials released a rendering of what the park will look like once work is complete. The design includes hills, walking paths, fitness equipment geared toward seniors and a small multi-purpose field.
The project is the latest in a series that invest in and expand Chicago's riverfront.
Mayor Rahm Emanuel cut Tuesday the ribbon to open River Point, a 52-story office building at the intersection of the river's north, south and main branches.
The mayor will also attend Wednesday's 2 p.m. groundbreaking.