In most cases, the cost of insuring equipment is prohibitive. The prices continue to escalate, and the money usually isn't there.
To give a rough idea of the rebuild cost, we have a wooden Frisco caboose that we have been rebuilding. So far we have a new roof, cupola, end sills, siding, windows and doors. All of the woodworking has been contracted. Metalwork and painting has been done by volunteers. We are somewhere around $40,000, and haven't touched the interior.
Based on that, and figuring constantly escalating prices for material and labor, a turnkey restoration will probably run $70,000 or more. I seriously doubt if the city will be able to cover that. If it is to be rebuilt, the funds will most likely have to come from donations and grants.
Fred in Wichita
Cantankerous Geezer