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The third "Insull interurban" in Chicago was the Chicago, South Shore & South Bend Railroad (the "South Shore Line"). It actually survives to this day, providing commuter service between Millennium Park in Chicago and South Bend, Indiana.
While the South Shore was also substantially modernized in the 1920s, unlike the other two Insull lines, the South Shore is not compatible with the "L" - instead it is compatible with the Illinois Central Railroad electric commuter line in the south suburbs of Chicago (the Metra Electric District). For a period in the 1920s, it actually beat the North Shore's speed records.
The South Shore survived for several reasons - unlike the other two lines, it did not have direct competition from steam railroads, and it had a substantial freight business (which has since been spun off into a separate company). Like the Milwaukee Road, the South Shore Line acquired the "Little Joes" for freight service when their shipment to the U.S.S.R. was cancelled. To this day, it still has portions of street-running, and is considered by many to be the last interurban line in America (some "purists" argue that the North Shore was the last "traditional" interurban, while others claims that the "final interurban" distinction is shared with SEPTA's Norristown High-Speed Line in the Philadelphia suburbs).