Another office-to-resi conversion lifting off with $98M TIF

Nov 8, 2024, 3:33 PM. By. TRD Staff. An office-to-residential conversion in Chicago’s Loop is getting a boost from a $98 million taxpayer subsidy. Tax increment financing will support the ...

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Another Office-to-resi Conversion Lifting Off With $98M TIF

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Nov 8, 2024, 3:33 PM. By. TRD Staff. An office-to-residential conversion in Chicago’s Loop is getting a boost from a $98 million taxpayer subsidy. Tax increment financing will support the ...

therealdeal.com

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City Commission Approves $98 Million For LaSalle Street …

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2 days ago · The Community Development Commission has recommended that the City Council approve $98 million in tax increment financing for the redevelopment of the Field Building at …

newsminimalist.com

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Massive LaSalle Street Redevelopment Set For $98 Million TIF Subsidy

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Nov 7, 2024 · The city said 434 of the units would be affordable, and a total of $249 million in TIF money would be used to subsidize the redevelopments. To win the TIF grant for 135 S. …

chicagobusiness.com

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$98 Million In TIF Approved For 135 S. LaSalle | BLDUP

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5 days ago · The Chicago Community Development Commission has approved $98 million in Tax Increment Financing (TIF) for a $240 million office-to-residential conversion at 135 S. LaSalle. …

bldup.com

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City Commission Approves $98 Million In TIF Funds For Massive …

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3 days ago · The funds would help help developers transform vacant floors in a 44-story tower at 135 S. LaSalle St. into hundreds of apartments and other uses, possibly including a …

wirepoints.org

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Chicago Department Of Planning And Development’s Post

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Yesterday, the Community Development Commission approved up to $98 million in TIF support for the planned mixed-use conversion of 135 S. LaSalle St. in the Loop. Led by Riverside …

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Funding Initially Approved For First LaSalle Street Reimagine Projects

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Jun 12, 2024 · Floor plans and renderings of 30 N LaSalle Street by SCB. 30 N Lasalle Street. Team: Golub, Corebridge, SCB, Confluence. Funding: $135 million total – $57 million …

chicagoyimby.com

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LaSalle Street To Get 1,000 Apartments Under Plan To Repurpose …

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Apr 3, 2024 · The projects would collectively use $151.2 million in tax-increment financing (TIF) funds to repurpose underused office buildings along LaSalle Street, adding more than 1,000 …

blockclubchicago.org

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Massive LaSalle Street Renovation Gets $98 Million In TIF Funds

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The largest project so far in the LaSalle Street Reimagined program inched closer to reality Tuesday when the Community Development Commission recommended that the City Council …

deal.town

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Funding Initially Approved For Second Group Of LaSalle Street …

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Jun 16, 2024 · Funding: $122.7 million total – $26.2 million approved. Originally built in 1914 and designed by famed architect Daniel Burnham, the former bank building currently contains the …

chicagoyimby.com

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O'Hare Expansion, LaSalle Street Makeover Take Big Steps Forward …

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Jun 12, 2024 · The developer’s request for a $26.2 million TIF subsidy, $6.8 million less than the original submission made last year, is expected to be approved within months.

suntimes.com

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NEW JERSEY’S VERSION OF TAX INCREMENT FINANCING

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award amount can equal up to 30% of project costs and is paid to the developer over time (up to 20 years), drawing on up to 75% of the net new tax revenue generated by the project (the …

sillscummis.com

FAQs about Another office-to-resi conversion lifting off with $98M TIF Coupon?

How much does a TIF project cost?

TIF request: $57 million. The proposal that would create the most residential units is being pitched for 30 N. LaSalle St. If funded, the project would create 349 units, 105 of them affordable. It also calls for ground-floor retail and added green space along Washington and LaSalle streets. ...

Will a redevelopment of field building unlock $98 million in tax increment funding?

That would unlock $98 million in tax increment financing funds for redevelopment of the landmark Field Building, a 44-story tower at 135 S. LaSalle St. in the Central Loop. ...

Will tax-increment financing repurpose office buildings along LaSalle Street?

The projects would collectively use $151.2 million in tax-increment financing (TIF) funds to repurpose underused office buildings along LaSalle Street, adding more than 1,000 new apartments, with at least 319 of them affordable. ...

How much does a TIF request cost?

TIF request: $26.2 million. Prime/Capri Interests, LLC — which is renovating the Thompson Center as part of state’s separate Google deal — would build 226 “upscale” apartments, 68 of them affordable. The apartments would be in between the JW Marriott Hotel on the lower levels and the LaSalle Hotel on the upper levels. ...

How much does the LaSalle Residences project cost?

Proposal Highlights: 280 residential units | 84 affordable units | $130 million – $464K Per Unit Dubbed the LaSalle Residences, the project will redevelop part of the 1914 Daniel Burnham designed structure which currently houses the JW Marriott and The LaSalle Hotel. ...

Will LaSalle Street be transformed into apartments?

The Chicago Board of Trade Building looms over LaSalle Street in the Loop on March 7, 2023. Credit: Colin Boyle/Block Club Chicago DOWNTOWN — At least four Downtown buildings on LaSalle Street are a step closer to being transformed into apartments — many of them affordable — after getting the mayor’s green light. ...