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Article: CTA plan: sell, lease back its train lines. (Chicago Transit Authority)
- Article from:
- Crain's Chicago Business
- Article date:
- January 19, 1998
- Author:
CopyrightCOPYRIGHT 1998 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Agency could net millions; Metra to follow suit
In a pioneering move to raise cash to fix its aging train system, the Chicago Transit Authority is nearing agreement to sell and lease back one of its rapid transit lines.
On the block is the recently rebuilt Green Line, which runs from the Loop to the South Side and west suburban Oak Park. A sale that observers say could bring the Chicago Transit Authority (CTA) $40 million, after lease payments, is "less than two months away," says CTA President Frank Kruesi.
Other sale-leasebacks of tracks and equipment are likely - not only by the CTA, but also by commuter rail operator Metra - under terms of a change ...