A team of contractors based in Chicago appears to be the frontrunner to build a replacement for Memorial Bridge. Archer Western Contractors submitted a bid price of $81.42 million to build the new bridge from Portsmouth to Kittery, according to the N.H. Department of Transportation.

Under Archer Western’s schedule, the replacement bridge would take 565 days to complete, opening to motor vehicles in July 2013. The contract would include the design and construction of the new structure, which will replace the 88-year-old lift bridge that closed to vehicles this summer.

Two other companies submitted slightly less expensive bid prices, but both would take significantly longer to complete the project. Cianbro Corporation’s price was $78.884 million, with a schedule of 712 days; Middlesex Corporation’s price was $78.62 million, with a schedule of 715 days.

Archer Western’s proposal still must go through an internal review and be approved by the N.H. Executive Council. According to DOT spokesman William Boynton, the issue will likely be on the council’s Nov. 30 meeting agenda.