is it cheaper to build a new line or revive an abandoned line?

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Well, an abandoned rail line with track still in place, sure. But abandoned does not necessarily mean the track is in place, or even that the right of way is still available.

Do you have any specific examples you're thinking of?
 
If you are looking to build a high speed line, it would probably be cheaper in the end to build an all new line, somewhat away from the existing line, in a right of way that would allow less curvature....not to mention probably less development adjacent...cheaper to build across farmland or rural areas than a busy existing 'corridor'.....
 
Probably the best solution in an urban area like Chicago, would be just what Chicago has done in the past....that is "piggy back" new railway construction with new highway construction, like the CTA did on the Dan Ryan and other expressways.

Of course, in today's reality, it seems even new highway routes are a thing of the past....

Here in NYC, when the Port Authority was considering route options for its JFK Airtrain, instead of reviving an old abandoned, LIRR Rockaway line that would have allowed one-seat fast rides from Penn Station to JFK, they finally settled on a new elevated automated train above the existing Van Wyck Expressway, that provided connections to the LIRR and the subways....
 
Barring specialized needs such as HSR in most cases an old unreclaimed ROW would probably be cheaper to rebuild than starting from scratch, even if the track itself was missing or in poor condition. This is mainly due to the benefit of proper grading and the likelihood of intact and repairable bridges and crossings and lack of competing land interests. That being said the actual cost to the RR would depend on factors above and beyond the fundamentals I've identified here. For instance modified zoning, tax considerations, political pork, and other factors may strongly favor a brand new ROW regardless of cost.
 
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