Illinois Railway Museum Blog

DONE

Those were the words that were telegraphed across the country when the golden spike was hammered in at Promontory Point signaling the completion of the transcontinental railroad and that would be an appropriate word to use today Friday November 20th at 3:50 p.m. Why? Because that's the time that the closing was completed on IRM's latest land acquisition, the 89 acre Siegel farm located directly east and adjacent to Museum owned land.

Siegel Farm Purchase

The Museum has been trying to purchase this acreage for over two years now and thanks to your donations to the LAND ACQUISITION FUND we were in a strong position to take advantage of the recession in land prices and purchase this parcel at a VERY favorable price. Mortgage rates are down now and as a result of being able to put more than 40% of the purchase price down we were able to secure favorable terms from our local bank.

Our plans are to continue to rent this out for farming and hold on to it as a buffer against future development encroaching on the Museum. The full story with pictures will be in the next Rail and Wire, but in the meantime if you are considering your end of year donation PLEASE consider the LAND ACQUISITION FUND so that we may replenish that fund and be ready for the next opportunity that may arise.

Thank You.
Nick Kallas
Executive Director