CHICAGO MILWAUKEE <CHG> GREETS SHEARSON STAKE Chicago Milwaukee Corp said it welcomed an investment by Shearson Lehman Brothers Inc in its company. Yesterday, Shearson Lehman, a subsidiary of American Express Co (AXP), disclosed in a Securities and Exchange Commission filing that it holds a 5.35 pct interest in Chicago Milwaukee. Chicago Milwaukee's stock edged up 2-1/8 to 138 on turnover of 8,100 shares, as one of the biggest gainers on the NYSE. The stock has been trading in a 154 to 128 range for the last 52 weeks. Edwin Jacobson, Chicago Milwaukee president, declined to comment on movement of the company's stock but said,"From an investment point of view, we are pleased to have Shearson, Lehman as a substantial investor." Shearson, Lehman purchased the shares for investment purposes and may continue buying shares depending on market conditions, according to the filing. Chicago Milwaukee, which sold its railroad interests to Soo Line Railroad Co (SOO) in February 1985, currently manages and sells its real estate which consists of 28,000 parcels in 11 states.