Chicago & Midwest + Downtown + Apartments | February 16, 2023

City Shortlists Six LaSalle Street Adaptive Reuse Projects

The Lightfoot administration has shortened the list of LaSalle Street office projects that could win public subsidies to be turned into apartments, representing a step forward in the city’s plan to revitalize the Loop thoroughfare with residents, Crain’s Chicago Business reported.

Six projects totaling $1.1 billion in estimated costs are set to be unveiled with more detail at a March 2 community meeting, according to the city’s Department of Planning & Development (DPD). The developers behind the proposals seek tax-increment financing and other incentives to help finance the projects.

The city announced last fall that it planned to move ahead on at least three projects by the end of 2023’s first quarter. According to DPD, the projects under consideration include:

30 N. LaSalle St., Golub & Co. LLC/American General Life Insurance Co.

208 S. LaSalle St., UST Prime III Office Owner LLC.

135 S. LaSalle St., Riverside Investment & Development/AmTrust .

105 W. Adams St., Maven Development Group.

105 W. Adams St., The Reimagine Adams Limited Partnership.

111 W. Monroe St., 111 W. Monroe LLC.

Pictured: 30 N. LaSalle St.

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Inside The Story

DPD LaSalle Street proposals

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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