Railroad: The Ann Arbor Railroad Company
Toledo, Ann Arbor & North Michigan (and others) → Ann Arbor Railroad (1895-) → Penn Central → State of Michigan/Michigan Interstate Ry,
Acquired: The Toledo, Ann Arbor & North Michigan at foreclosure in 1895 from Toledo to Frankfort.
Became: Penn Central
The Ann Arbor Railroad was created by the purchase of the Toledo, Ann Arbor & North Michigan Railway company in a foreclosure sale on July 2, 1895. The company was controlled from 1905 to 1910 by the Detroit, Toledo & Ironton. Control was assumed by the Wabash railroad in 1925, and then transferred back to the DT&I in 1963. The AA declared bankruptcy in 1973 and the portion north of Ann Arbor sold in 1980 to the State of Michigan.
The Ann Arbor Railroad controlled the Manistique & Lake Superior in 1911.
The line south of Ann Arbor was operated by the Michigan Interstate Railway Company from 1977 to 1988 and acquired at that time by the Ann Arbor Acquistion Corporation. In 2013, the line was sold to Watco, a large operator of shortline railroads. The Ann Arbor interchanges with the Great Lakes Central Railroad at a location known as Osmer, in Ann Arbor Township.