It was replaced in 1911 by the Chicago and North Western Terminal on the other (west) side of the North Branch of the Chicago River, removing passenger trains from the Kinzie Street railroad bridge over the river.

The first Wells Street station was destroyed in the Great Chicago Fire of 1871, a temporary wooden structure replaced it until, in 1881 the Wells Street Station opened in the same location.

The Wells Street Station was bounded by the Chicago River to the south and west, Kinzie Street to the north and Wells Street to the east leaving no room for expansion; furthermore, as both rail and ship traffic increased, the movable bridge over the river resulted in congestion.

[2] In 1911 the new Chicago and North Western Terminal opened, with new elevated approaches branching from the old ones west of the river.

The station remained for freight, and when the Merchandise Mart opened in 1930 (using air rights above the railroad), a new freight station served the Mart, and was connected by elevators to the Chicago Tunnel Company.