Chicago Announces Three Winning Proposals for Re-Use Initiative in the Loop

Three initial proposals have been chosen by the City of Chicago to move forward as part of the LaSalle Reimagined project, Chicago YIMBY reports. The initiative seeks to introduce more than 1,000 new housing units, of which 300 will be designated as affordable, to downtown Chicago. The Loop has long been home to primarily office space, and LaSalle Reimagined seeks to transform the area through adaptive re-use of existing historical buildings. The winning proposals include 111 West Monroe Street, 135 South LaSalle Street and 208 South LaSalle Street. Collectively, the proposals will be subsidized with US$188 million in tax-increment financing. Completion dates range from September 2024 to May 2026.