While Jay, Walter, and a newcomer, an Amtrak machinist, Cliff Hadlock, prepared a condition report and petition for leasing the 587, another railroader, Ed "Sarge" Sargent, was arranging a temporary home for the engine. Ed was superintendent of Conrail's Avon Yard diesel shop, and a steam-lover at heart. Thanks to Ed's efforts, the vacant Caboose Shop at the Beech Grove yard was made available for Cliff and his crew of volunteers to work on 587. But at least one obstacle remained: that of persuading Broad Ripple Village residents to "OK" letting 587 begin a new career. In need of political and broad support, Jay joined his group with the Indiana Transportation Museum (ITM), given its active role in the community (the Fair Train), not-for-profit status, membership, and equipment.

By April 14, 1983, the Friends of 587 and the ITM staff were ready. A public hearing was scheduled in the assembly hall of Broad Ripple High School to decide the merits of the plans for 587's future. To a packed house of residents, reporters, and City officials, the Friends used slides and overhead transparencies as its members pleaded their case to city government. The group drew on the success of allies in the Ft. Wayne Historical Society, which had rescued NKP 2-8-4 765 from a city park and returned her to service as ". . . an ambassador for the City of Ft. Wayne." In closing, the spokesman for the Friends of 587 presented the 587 as ". . . much more than a static assemblage of steel, iron, and brass. In full working order, it's a living, breathing, animated machine which tells countless stories about our past and present."

According to Bill Stewart, who greatly helped the Friends of 587, "As their presentation progressed, members of the group endeavored to gauge crowd reaction as they prepared to respond to criticism of their proposal. But, throughout the public hearing, respondents rose to applaud the proposal and condemn those who had scarred the 587." No dissents were offered by residents or officials. That evening, the Parks Board voted unanimously to approve resolutions that set aside the parcel of land, including 587's display site, and offered a 25 year lease on the locomotive to the ITM. Stewart continued, "For the Friends of 587, a small group of volunteers whose improbable cause had been endorsed by the municipal government of the nation's 11th largest city, it was a moment to savor again and again."

Now there was much hard work ahead and promises to be kept. In September 1983 that work began. Members of the ITM and the Friends committee, with the help of Cliff Hadlock and Ed Sargent, made the engine ready for removal from Broad Ripple Park to the former Monon tracks by Underwood Transfer Co., the same firm which had moved 587 into the Park 28 years before. Tasks to be done included cleaning and oiling of all axle (journal) bearing surfaces, repacking the journal boxes, separating engine and the tender, airbrake work, and removal of the main connecting rods. Finally, the ITM excavated a ramp to allow access for Underwood's rig to load the tender, then the engine. By the end of September, all necessary work was done and it was Underwood's turn to move the 587 to the former Monon (now a part of the CSX) at Winthrop and Westfield.