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CITY HALL \u2014 Chicago will officially be allowed to purchase the city\u2019s\u00a0Greyhound bus station, a major step toward preserving the station and intercity bus transportation.<\/p>\n
The City Council on Wednesday approved a purchasing agreement to buy the bus station at 630 W. Harrison St. for $19.2 million. <\/p>\n
The move comes as officials also expanded the boundaries of the Canal\/Congress Tax Increment Financing district to include the terminal, which would provide public funding to support the purchase and future improvements to the station. While it\u2019s unclear how much those would cost, an additional $30 million has been budgeted for repairs, although that figure would still need City Council approval.<\/p>\n
The bus terminal has been on a month-to-month lease with property owner Alden Global Capital since last year, after the company\u2019s long-term lease expired.<\/a><\/p>\n