CHICAGO (CBS) — The Wacker Drive reconstruction project is kicking into its next phase next week.

On Monday, the stretch of South Wacker Drive between Monroe and Adams streets will shut down, along with the two intersections at either end.

But the good news is that the City of Chicago says the $300 million Wacker Drive reconstruction project is on time and under budget.

The intersection with Madison Street, which has been closed since July, will reopen on Monday as barricades go up between Monroe and Adams.

Construction on the Monroe-to-Adams stretch is expected to be finished by the summer. Afterward, the project moves south along Wacker Drive to Jackson Boulevard and Van Buren Street.

A double-decker road along the Chicago River was part of Daniel Burnham’s 1909 Plan for Chicago. The east-west leg of Wacker Drive was completed in 1926, replacing River Street and most of South Water Street, while the north-south leg was finished in 1954, replacing Market Street.

East-west Wacker Drive was rebuilt from Michigan Avenue to Randolph Street in 2001 and 2002. The project to rebuild the north-south portion began a year ago.