Waterloo was once a major railroad hub in central Iowa. The Illinois Central Railroad (IC), Chicago, Rock Island & Pacific Railroad (Rock Island) and Chicago Great Western Railway (CGW) all operated mainlines and terminal facilities within the city. In addition, the Waterloo, Cedar Falls & Northern Railway (WCF&N) operated interurban lines within the city. Today, Canadian National Railway owns the former IC, Rock Island and the former CGW line east of the Cedar River. The former CGW west of the Cedar River and much of the WCF&N trackage has been abandoned, and some reused as trails.

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