President Steve Sandberg says his group, now based in Minneapolis, plans to use the Silvis complex to restore antique equipment, and may eventually open a museum.
"We have a fleet of passenger cars but in the future we hope to have it open to the public and we are definitely exploring all possibilities as far as commercial ventures, warehousing space, and rail car storage."
His group bought the property from National Railway Equipment which is moving its locomotive manufacturing, and most of its workers, to southern Illinois (Mt. Vernon) and Kentucky (Paducah). Three railroads also use the complex, the BNSF, Canadian Pacific, and Iowa Interstate.
"We love the trains and we enjoy the trains, but it's really because of our enjoyment of preservation and history and teaching generations about the hard work that the men and women did before us to build this country."
Sandberg's group organizes special steam-powered train excursions in Minneapolis, and may soon offer them in the Quad Cities.
He calls this "one of the boldest moves for historic and railroad preservation in recent history."