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LaSalle Adaptive Reuse Project Wins Chicago City Council Approval
Field Building Revitalization Partners, LLC, a joint venture between Riverside Investment & Development, AmTrustRE, and DL3 Realty, recently secured City Council approval for a TIF redevelopment enabling the adaptive reuse of the landmarked 135 S. LaSalle St. in Chicago’s CBD.
The historically significant, 1.35-million-square-foot Art Deco building, known as the Field Building, will be converted from vacant office space to modern residential units, marking one of the largest conversions of its kind in the U.S. when it commences in spring 2026.
The development team will convert 624,000 square feet of office vacancy into 386 residential units and 92,000 square feet into commercial space. The 430,050 square feet of residential space will feature a mix of studio, one-, and two-bedroom units. The centerpiece of LaSalle Street developments has a total budget of $241.5 million and is supported by $98 million in city subsidies and historic tax credits. SCB is the architect on the redevelopment.
