The City of Chicago is revitalizing the LaSalle Street corridor in the Loop with mixed-income residential uses and other neighborhood-oriented amenities.
On April 3, 2024, Mayor Brandon Johnson announced that four adaptive re-use proposals consisting of more than 1,000 units of mixed-income housing are being advanced for City financial assistance while two additional proposals continue to be reviewed.
Collectively representing more than $525 million in total investments, the projects will repurpose 1.3 million square feet of vacant space, including the creation of more than 300 homes that will be affordable to residents earning an average 60% of the area median income.
30 N. LaSalle St.
349 units, 105 of them affordable.
Ground-floor retail and added green space along Washington and LaSalle streets.
Cost:
$130.2 million
TIF request:
$57 million
208 S. LaSalle St.
226 units, 68 affordable.
The apartments would be in between the JW Marriott Hotel on the lower levels and the LaSalle Hotel on the upper levels.
Cost:
$122.7 million
TIF request:
$26.2 million
111 W. Monroe St.
345 units, 105 affordable.
Developers plan to revive the former Monroe Club on the rooftop with shared amenities for hotel guests and residents, including a restaurant and a swimming pool.
Cost:
$202.8 million
TIF request:
$40 million
79 W. Monroe St.
117 units across eight floors, 41 affordable
Cost:
$64.2 million
TIF request:
$28 million
Mayor Brandon Johnson
City of Chicago
I’ll tell you this, these four projects demonstrate our shared commitment to revitalizing downtown and creating affordable housing in every single neighborhood,” said Mayor Johnson. “Chicago truly is the greatest city in the world. I say it because it’s true. … What other cities do you hear the words ‘downtown’ and ‘affordability’?
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