The most enticing exhibits at the Illinois Railway Museum don't sit in glass cases. Instead, they can be found chugging along the five-mile mainline or the one-mile streetcar loop at various points in the day, giving visitors an opportunity to witness these antique machines functioning the way they were meant to do. This emphasis on living history is a key part of the museum's mission to educate visitors about the growth and development of the railroad industry throughout the Chicagoland area as well as the United States in general.

Although it already possesses extensive collections of trolley coaches, electric cars, diesel engines, steam locomotives, and railroad cars, the Illinois Railway Museum is still bent on acquiring more pieces, hoping to eventually represent each major chronological period in the history of rail travel. The museum's volunteers do their best to restore antique equipment whenever possible, either by rebuilding original parts or by using modern reproductions and cosmetic touches to fill in the blanks. This ensures that visitors will not only be able to see restored, full-sized versions of historic rolling stock, but can also witness them in motion and even ride some of them.

Beyond the locomotives and cars, the Illinois Railway Museum also features a broad assortment of historical artifacts. Antique signals, telegraph and communications equipment, tools, uniforms, and ticket stubs are all available for viewing for guests hoping to learn even more about America's railroad history.