According to Local News 4, windchills on Wednesday could reach a staggering -55.

So how exactly do you prepare for such crazy cold weather? Aside from keeping your heat blasting and staying indoors as much as possible, it's important to keep your pipes from freezing and potentially causing an expensive headache.

CBS Chicago spoke to the Department of Water Management. They recommend following to avoid freezing pipes this week:

- Run a trickle of cold water on each floor of your house, especially at areas furthest from your main water service.

- Try to circulate warm air in any area that has water pipes. The easiest way to do this is to open cabinet doors in your bathroom and kitchen where pipes are.

- If you haven't removed outdoor hoses already, make sure to do so and also try to cover the hose bibs.

- If you plan on not being home, do not set your thermostat to lower than 55.

If your pipes do end up freezing, use a hair dryer or heating pad to help defrost them.