The bus line #16, which serviced Lake Street from Austin to Fulton Market, was removed in 1997.
The bus provided transit service along the CTA Green Line from Clinton Street to Austin Boulevard, according to the group self-dubbed as the Lake Street Transit and Safety Coalition.
The group said the CTA stopped the service citing lack of funding.
The group also pointed that other CTA rail lines that have nearby parallel buses to move between stations.
A press conference will be held at noon in West Town on Thursday.