Chicago NASCAR street race grandstand setup begins, some parking restrictions in effect

CHICAGO (WLS) -- Ladies and gentlemen start your engines. Construction of the temporary grandstands for Chicago's NASCAR street race is underway in Grant Park.

A month from now race cars will be zooming down Columbus drive in front of Buckingham fountain as the first ever NASCAR street race takes over the streets of downtown.

NASCAR CHICAGO STREET RACE: Course guide, street closures and parking restrictions

It will be the first time in NASCAR's 75 year history they have run a race on city streets rather than a track. As such, they have to build places for spectators to sit.

As a result, parking restrictions go into place starting today. As of Friday, June 2, there is no parking on southbound Columbus between Jackson and Balbo. Monday, there is no parking on northbound Columbus between Jackson and Balbo.

But those spectators will also need places to eat and sleep at night, which is expected to provide a huge financial boost to the city; an estimated $113 million in economic impact.

"We're expecting a heavy impact for the Loop, downtown, all of Chicago," said Michael Edwards of the Chicago Loop Alliance.

The NASCAR organization is also hoping the race will provide a big boost to the sport. They are investing about $50 million into this inaugural street race, and they say Chicago is the perfect place to host.

Television coverage will also highlight the city's skyline and help market Chicago to tourists around the world.

Already race officials are expecting visitors from all 50 states, 13 countries and four continents.

"Again, this is our first street race. To be able to do it in such an iconic location in and around Grant Park, the city, the skyline, the Lakefront," said Julie Giese, NASCAR street race director.

Of course there will be much more work and more road closures, but race officials say not until the end of June, for the most part, leading into race weekend July 1 and 2.