Sposato said the new playground, which was designed by a 25-member committee of residents, was badly needed by Dunning residents.
The playground, 8029 W. Forest Preserve Drive, is expected to open before the Fourth of July, Sposato said.
The playground will complement an annex that is scheduled to be built at nearby Canty Elementary School, Sposato said.
"Everything is really falling into place for that neighborhood," Sposato said, adding that building new playgrounds at Hiawatha and Shabonna Park are among his proudest accomplishments as an alderman.
At the request of the committee, the park will include swings for infants and children as well as one for those with physical disabilities, Sposato said.
Hiawatha Park is now in Sposato's 36th Ward, but as a result of changes to city ward boundaries made last year, it will become part of the 38th Ward — now represented by Ald. Tim Cullerton — when the 2015 aldermanic elections take place.
Cullerton has said he plans to run for re-election in the 38th Ward, but Sposato has not announced his plans.
Sposato said money from his discretionary budget would cover about half of the $600,000 cost of the new playground at Hiawatha Park, with the Chicago Park District picking up the other half.
"It is going to be a nice looking park," Sposato said.
For more neighborhood news, listen to DNAinfo Radio here: