Extremely local news: Canadian National, segueing into the Grand Illinois Trail
Richard Gill lays it out better than I could at present with my kitchen on fire,* so I'll just direct you to Hyde Park Progress:
What to Do if the Tracks Make Tracks?
Rail trail!!! But of course you already knew I'd say that. Seriously, I'd love to see a trail along that right of way all the way to the Little Calumet River (and future Calumet-Sag Trail), with a connector to the Major Taylor Trail through West Pullman. Even better would be such a trail extended even farther to the Old Plank Road Trail in Matteson.
I've suggested this before to a few people, but none of them have ever seen the need for another bike trail in Hyde Park. ("No, the trail on the lakefront is already right there. You're so cute when you talk about rail trails, though.") However, I doubt any of them were thinking any farther south than South Shore, where the Lakefront Path meets its undignified end at a crosswalk across the blind curve where South Shore Drive meets 71st. They certainly weren't thinking of a continuous off-street arc from here to Joliet and beyond. I know this because none of them are bicyclists.
Oh, if only there were some sort of Chicagoland bicycle federation that could organize the communities to promote this idea...
116th and Stony Island in my favorite fake neighborhood.
*No, not really.