The main Chicago Greyhound bus station at 630 W Harrison Street in the Near West Side has been put up for sale for redevelopment. Located on the corner with S Jefferson Street near downtown, it is bound on the north and west sides by the newly redesigned circle interchange and is one of multiple Greyhound stops in the city. After switching hands a few times in the last years, the site has now been listed by Texas-based CBRE in a move that similarly led to the sale of the Greyhound facility where Halsted Pointe is set to rise.
Greyhound was founded in 1914 in nearby Minnesota where it almost didn’t survive its first year due to the snow, eventually it relocated to Chicago in 1930 where it rapidly expanded before eventually buying the Dial Soap corporation. Greyhound has since become the largest intercity bus service in the nation, with its operations being sold in 2021 to German-based Flixbus for $170 million from British-based FirstGroup who bought it for $3.6 billion in 2007.
The roughly 88,000-square-foot site has held the large one-story station since 1989, being bought along with 32 other Greyhound properties by Chicago Tribune-owned Twenty Lakes Holdings for $140 million in 2021 separately. With 55 daily departures and on average 500,000 passengers per year, it serves more people than Rockford International Airport to destinations like New York and more. CBRE is marketing the site to be potentially replaced by a two-tower residential development near focal points like the Old Post Office.
The current terminal serves as a transfer hub with a study from the Chaddick Institute for Metropolitan Development finding that many passengers spend up to eight hours there. Its potential closure would disproportionately affect younger and people of lower income, especially if forced to wait outside with curbside pick-up similar to much smaller stops. Greyhound is currently in the search for a new permanent home close to downtown, as if it were closed it would leave Chicago as the largest city without a dedicated structure.