Taxpayers paying $50 million+ for Chicago-owned bus station

By Jim Talamonti | The Center Square
The Center Square

(The Center Square) – Taxpayers are expected to fork over at least $50 million for Chicago to own and operate a Greyhound bus terminal.

On Wednesday, the city council approved the $19.2 million acquisition of the station that was facing possible closure.

Mayor Brandon Johnson said the bus terminal has been critical to generations of riders.

“By bringing this facility under public stewardship, we are preserving a transportation hub that hundreds of thousands of passengers across Chicago and the region rely upon each and every year and ensuring that it remains a long-term public asset,” Johnson said.

Alderman Marty Quinn opposed the measure and said it’s a bad deal for the city.

“This deal isn’t $19 million. It’s actually $50 million when you add in how much work is going to need to go into fixing this facility,” Quinn said.

The 13th ward alderman said Chicago Department of Transportation costs would drive the price tag even higher.

“Our budget gap that we’re going to get into in short order would suggest that we shouldn’t be in the business of buying property. We should be in the business of selling property,” Quinn said.

Quinn also questioned whether the city could run a bus station.

“This is not an airport,” Quinn said.

Alderman Bill Conway urged support for the purchase, saying the station serves about 470,000 passengers per year.

Conway said station repairs and renovation would be paid for by tax increment financing dollars from the Canal/Congress TIF district, which will be expanded to include two additional tax parcels covering 4.3 acres in the area where the bus station is located.

Aldermen voted 38-10 in favor of the purchase.