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Although Waukegan Station is not the terminus of the UP-N line, most trains along the line stop at Waukegan. The station not only contains storage tracks for Metra trains, but is also located near freight lines for the Union Pacific Railroad as well as the Elgin, Joliet and Eastern Railway. Also there is a Union Pacific freight yard adjacent to the station and freight trains are oftentimes parked and sorted here. In addition, the station serves as a stop for the Great Lakes Naval Training Center. Passengers who wish to travel to the Zion Metra station can use Pace's route 571, which provides daily service between the two stations.
Waukegan Station is located very near to downtown Waukegan, home to attractions such as the Genesee Theatre. Located at the bottom of the bluff that overlooks Lake Michigan, the station is immediately downhill from the historic Carnegie Library building. Other historic buildings in the area include the old houses of the Shimer College Historic District, site of that school's campus until 2006. Buses connect the station to attractions further inland, such as Six Flags Great America in Gurnee.