I noted a question from GM about the status of the former Milwaukee Road properties in Chicago. It gets complicated.
Chicago Milwaukee Corporation (CMC) was the parent company of the Milwaukee Road railroad in the 1970s through its bankruptcy in 1977. When Soo Line, the US subsidiary of Canadian Pacific, bought and took over the Milwaukee Road\'s railroad operations out of bankruptcy in January of 1986, CMC was the corporate successor to the Milwaukee Road and it retained the vast real estate holdings of the former railroad that were not transferred to the Soo Line.
CMC also inherited a number of brownfield sites that required remediation.
CMC existed mainly to liquidate real estate holdings of the former Milwaukee Road which it did over the next twenty years. CMC paid out very high dividends for many years and continued to be headquartered in Chicago. CMC became known as \"CMC Heartland Partners\" then simply \"Heartland Partners LLC\" when it dissolved in 2006, having sold off the last of its holdings.
Much of Goose Island (the former Division Street yard), the area west of Clinton Street in downtown Chicago, and strips of the C&E Line were owned by CMC/Heartland Partners and sold off to developers. It also sold off vast real estate holdings out west and the former Milwaukee Road shops and yards area around Miller Park in Milwaukee that is being redeveloped.
The residential area around Irving Park Road and the former Milwaukee Road C&M mainline that GM mentions was developed on the sites of former factories.
You can trace CMC\'s history via online documents with the Securities & Exchange Commission (SEC) as I have done. CMC was a public company and had to file statements with the SEC. It makes for interesting reading though some business background is handy for digesting the financial information.
Tom
