WINTER WEATHER WATCH: Latest Updates On Weekend Snow, Bitter Cold And Wind

Chicago (CBS) -- The Chicago area is under a winter storm warning through Saturday afternoon, with heavy snow accumulations of up to eight inches expected in some areas.

The heaviest accumulations are expected overnight Friday into Saturday morning, with storm prediction models showing some areas getting up to 8 inches of snow overnight.

Areas south of Chicago could see 3 to 7 inches, while northern areas could see slightly higher totals, around 4 to 8 inches.

By noon on Saturday, the snow is expected to move out while frigid air moves in.

Winds will blow and drift the snow on Saturday, with gusts reaching up to about 30 MPH in some areas.

Those gusty winds will create dangerous conditions on Lake Michigan, where waves could reach 7 to 10 feet. A Lakeshore Flood Advisory is in effect from 6 a.m. Saturday to 9 a.m. Sunday.

Around 9 p.m. Saturday, lake-effect snow is expected to start. That round of snow could ramp up overnight, bringing an additional 2 to 6 inches to areas near the lake.

An arctic blast will take over on Sunday, bringing bitter cold and wind chills well below zero.

CBS 2 has a timeline of the winter storm: 

Overnight: 

Snow will accumulate on roadways overnight as snow falls at a rate of 1-2 inches per hour.

Airport delays: 

Delays at O'Hare and Midway were averaging about 15 minutes as of 9 p.m. with 210 cancellations reported at O'Hare and over 100 cancellations at Midway.

11:30 p.m. 

A light but increasingly steady snow was falling in Chicago and to the north and west of the city around 11:30 p.m., but a band of snow approaching from Iowa should create heavier snowfall as the night goes on.

Midway Airport was 29˚ with an 18˚ windchill.

Friday afternoon:

Light snow was reported in Crystal Lake, Woodstock, Wheaton and Glen Ellyn Friday afternoon.