Down time for the rebuild: 261 was down from Sept. '08 until it ran on it's first excursion after the rebuild in May '13, a total of 4 years and 8 months.
A few quotes about financial problems with the rebuild:
"Railroading Heritage of Midwest America, the non-profit operators of Milwaukee Road 261 and a fleet of passenger cars, are making good progress in rebuilding 261 for operation. Much of the work is being done by volunteers as time and money are available."
During this time, the engine was also sold, then purchased. There wasn't enough money for the rebuild, and significant fundraising efforts were undertaken. This from the 2010 time frame:
"Last fall, the museum (Green Bay) put No. 261 up for sale through broker Sterling Rail for $225,000. It found a taker in a California businessman who hoped to buy the engine and have the friends overhaul and operate it. That deal fell through this March, and the museum then contacted Steve Sandberg, the friends' chief operating officer, offering to sell it. This week, a purchase agreement was signed and the sale went forward.
In a TRAINS interview, Sandberg describes the sale as a winner for both sides. "We're pleased that we were able to purchase 261 and that it can now be overhauled," he said. "While it was not originally our intention to buy the locomotive, after the museum offered it to us, we decided that was the only option if 261 was to run again," he said.
While Sandberg's group now owns the engine, hurdles remain. The group had to use much of the cash it had originally earmarked to restore 261 on the purchase, which means it now doesn't have enough money on hand to complete the rebuild. Sandberg said that while crews will resume work on the 261's rebuild immediately, the group would also concentrate on fundraising."