Railway Exchange Building, Chicago, ILIn 1989, the Chicago South Shore & South Bend railroad was formed to acquire certain railroad assets from a trustee-in-bankruptcy. The transaction conveyed the responsibility for passenger operations to a regional commuter authority.
In 1994, the Louisville & Indiana Railroad was formed with acquisition of 106 miles of rail line from Conrail.
The New York & Atlantic Railway was formed in 1997 as a result of the privatized concession to operate freight trains on lines owned by Long Island Rail Road.
In 1998, Pacific Harbor Line was formed to provide rail transportation, maintenance and dispatching services to the Ports of Long Beach and Los Angeles, which together form the largest container port in the United States.
Northern Lines Railway was formed in 2005 to operate over BNSF trackage in central Minnesota.
In 2008, Gulf Coast Switching, LLC was created to provide contract rail switching services at Robinson Yard in Dayton (near Houston), TX.
In 2011, Anacostia Rail Holdings Company moved its corporate headquarters to the historic Railway Exchange Building in Chicago, former headquarters of the Atchison, Topeka & Santa Fe Railway.