The station will be located inside the yet to be finished drop off zone. (This is different to what clearland08 was told.
Well, to clarify, he said the CTA station itself (i.e. entry/exit to platforms) would be 9 meters underground, but the entrance to that station would indeed be where current drop-off zone is - so that was consistent. I got the same information on the parasol design to ensure completely covered access from terminal to the CTA MPT station, although he went on to say that could be replaced by standard covered walkways!
I also asked about frequency and one of the guys told me that definitely 2 trains in each direction, i.e. aiming for a shuttle taking 5 mins leaving every 5 mins, but possibility to have 3 trains each way.