Posts Tagged ‘Midwest & Bluegrass Rail’

North Judson Completes Rail Line Sale

May 6, 2021

An Indiana city has completed the sale of a short line railroad to Midwest & Bluegrass Rail.

The short line hold company purchased the 33-mile line, which North Judson had owned for 17 years.

The town had purchased the former Chesapeake & Ohio line years earlier when CSX sought to abandon it.

The town council and redevelopment commission approved creation of a redevelopment commission fund to handle the money resulting from the sale.

M&B subsidiary Cheaspeake & Indiana was already the line’s freight operator. A tourist train operation also uses a portion of the line

The winning bid of $2.725 million was the highest of three submitted.

Indiana Town Selling Rail Line

January 20, 2021

An Indiana town will sell a rail line that it owns to Midwest & Bluegrass Rail.

M&B already provides freight service on the line through its subsidiary Chesapeake & Indiana Railroad, which it acquired in 2020.

The city of North Judson has owned the rail line for nearly 17 years. The sale is expected to close within 60 days.

M&B was the highest of three bidders for the line, offering $2.7 million.

News reports indicate that M&B has a working relationship with the Hoosier Valley Railroad Museum, which operates over a portion of the line.

The sale agreement granted the museum a 10-year extension of its current operating agreement, as well as the right of first refusal to purchase its portion of the route should M&B choose to sell.

3 Vye to Buy Indiana Short Line

January 7, 2021

Three companies are seeking to buy an Indiana short line railroad owned by the city of North Judson.

One of the bidders, Midwest & Bluegrass Rail, has offered $2,725,000 for the 33-mile rail line, which also is used by the Hoosier Valley Railroad Museum.

M&B already operates the line as part of its acquisition of the Chesapeake & Indiana, one of four short lines it acquired in 2020.

Other bidders are only interested in the portion of the line used for freight traffic.

They include $2.3 million from agricultural co-op Co-Alliance and $1.6 million from Columbia Rail, which operates three short lines and rail terminal services at two sites in Washington state.

The town’s redevelopment commission is expected to the bids at a closed-door meeting next week.