This is indeed a fascinating look into the US railroad industry.
About the "Peavine Route" - I thought abandoned railroads are supposed to revert to the state (if fee-simple ROW) or adjacent landowners (if the ROW is an easement). In the Chicago area, several railroad segments are kept in private hands by running a short excursion train or hi-rail truck once per year. This lets them claim the railroad is still "active" and lets them vest their rights.
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la forme d'une ville change plus vite, hélas! que le coeur d'un mortel...
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