Renovations on the 70-year old Clark/Division Red Line station began on Monday.

In a statement, the Chicago Department of Transportation (CDOT) said work on the station will last until mid-2015 — however, the stop will remain open during this time.

The project’s budget is estimated at around $50 million, according to CDOT spokesperson Peter Scales.

“It’s outdated, it’s really outlived itself.  It’s time for those facilities to be upgraded,” Scales said in a phone interview Monday.

A half-block of Division St., from LaSalle St. to the alley west of Clark St., will be closed for close to a year. LaSalle and Clark streets will stay open to traffic while work’s being done.

Renovations to the station will include new elevators, escalators and other decorative features.