Where are you coming from? There is no convenient way to get there. The hotel idea is best. Otherwise I would drive, but give a lot of extra time.
Because of the hassles and walking distance from parking, count on up to half an hour from the time you pull into the parking lot entrance to the time you get to the test registration desk. Parking at McCormick is NOT CHEAP!
Jim's idea of a Metra Station at McCormick Place is correct, but the farthest south that line runs is University Park in the south Suburbs of Chicago. OP says he is coming from "originating from the direction of "Michigan/Indiana" which may be beyond the end point of the Metra Electric which stops at McCormick Place.
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312-322-6900 (main)
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RTA Travel Information Center (312) 836-7000
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MY tips:
Give yourself plenty of time, no matter what you choose to do. The psychological impact of rush and hassle of getting to a test site has derailed many test takers, causing them to fall below the cutoff point.
Personally, I would not be in a proper frame of mind to take a test after a two- or three-hour drive through traffic, heat, strange routes, but here's the second tip:
Drive in (or drive + train) for a trial run on the same day of the week as the test just to see for yourself whether you are fit to take a test after the travel or if you should bite the bullet and get local lodging the night before. It will be expensive, but you can figure that you will probably save the retake fee and if you fall below the cutoff point because you were too tired and cranky from the travel, you'll probably stay in lodging the second time you take the test