Chicago Moves to Secure $50M for South Loop Greyhound Station

City plans to expand Canal/Congress TIF to fund purchase and rehab of Greyhound terminal at 630 W. Harrison St.

Feb. 5, 2026 at 6:31pm

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The City of Chicago is taking steps to purchase and renovate the Greyhound bus terminal in the South Loop, allocating around $50 million in funding from the Canal/Congress tax-increment financing (TIF) district. The plan aims to keep intercity bus service in a centralized location rather than shifting to curbside pickup. City officials and transit advocates are hoping the project will transform the terminal into an inclusive regional hub for commuters, students, and lower-income travelers.

Why it matters

The Greyhound terminal in Chicago's South Loop has faced an uncertain future, with the property owner marketing the site and raising concerns it could be redeveloped for other uses. Maintaining a centralized intercity bus station is seen as important for providing transit access, especially for lower-income residents who rely on bus service. The city's $50 million investment aims to secure the terminal's long-term future as a multimodal transportation hub.

The details

The city plans to expand the Canal/Congress TIF district to fund the $50 million purchase and modest renovation of the Greyhound terminal at 630 W. Harrison St. The first public hearing on the TIF amendment is scheduled for April 7, with potential City Council votes in May. If approved, officials say the city could complete the purchase and upgrades before the end of the year. The proposed improvements include a glassed-in foyer, better waiting areas, and prominent "CHI" branding to establish the terminal as a regional hub.

  • The public meeting to start the process of adding the Greyhound terminal property to the Canal/Congress TIF was held recently.
  • The first hearing on the TIF amendment is set for April 7, 2026.
  • The mayor's budget outlines $35 million for the project in the next year and another $15 million the following year.

The players

Department of Planning and Development

The city agency leading the effort to purchase and renovate the Greyhound terminal.

Twenty Lake Holdings

The real estate arm of Alden Global Capital, the current private owner of the Greyhound terminal property.

Chaddick Institute at DePaul University

Researchers who have proposed a relatively low-cost makeover plan for a city-owned Greyhound station, envisioning it as an inclusive intercity hub.

FlixBus

The company that owns the Greyhound brand and has expressed support for the city's efforts to keep the terminal operating in a safe and efficient way.

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What’s next

The TIF amendment is scheduled to go before the Community Development Commission on April 7, 2026, with possible City Council votes in May. If approved, the city could complete the purchase and renovations before the end of the year.

The takeaway

Chicago's $50 million investment in the Greyhound terminal aims to secure the future of intercity bus service in a centralized location, transforming the site into an inclusive regional transportation hub. The project will test the city's commitment to maintaining accessible public transit options, especially for lower-income residents who rely on bus travel.