If you had both the Atlas and Lionel units in hand, you could compare the mounting screw locations. I have not done this and I am not familar with Lionel units. However, I have taken apart many MTh and some Atlas units. My guess is you stand a good chance of mounting the lionel shell on the Atlas frame. The two prototypes are the same length.
You would probably have to drill new holes in the atlas frame to match the Lionel shell and maybe make mounting pads out of styrene for the inside of the Lionel shell.
And you would probably want to make new handrails but you might be able to modify or use the Atlas 2 rail ones.
I think it is a very doable job - just some fiddling work to get things together.
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