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                                                                      EXHIBIT 23



CONSENT OF INDEPENDENT AUDITORS





We consent to the incorporation by reference in the following: (i) Registration
Statement No. 2-92404 on Form S-8, filed July 26, 1984; (ii) Registration
Statement No. 2-96593 on Form S-8, filed March 22, 1985; (iii) Registration
Statement No. 33-38790 on Form S-8 filed February 1, 1991; (iv) Registration
Statement No. 33-41007 on Form S-8 filed June 7, 1991; (v) Registration
Statement No. 33-61183 on Form S-8 filed July 20, 1995; (vi) Registration
Statement No. 33-06315 on Form S-8 filed June 19, 1996; (vii) Registration
Statement No. 333-78037 on Form S-8 filed May 7, 1999; (viii) Registration
Statement No. 333-81173 on Form S-8 filed June 21, 1999, and (ix) Registration
Statement No. 333-91865 on Form S-8 filed December 1, 1999, of GATX Corporation,
of our report dated January 23, 2001 (except with respect to Note 17, as to
which the date is March 5, 2001) with respect to the consolidated financial
statements and schedules of GATX Corporation included and/or incorporated by
reference in the Annual Report on Form 10-K for the year ended December 31,
2000.


                                                               ERNST & YOUNG LLP





March 28, 2001
Chicago, Illinois


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