Community Development Commission approves AmTrust, Riverside JV’s $98 million in TIF for 135 S. LaSalle; revised conversion plans calls for 386 apartments

11/14/2024

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Urbanize Chicago

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• Subcategory: MF: Affordable, MF: Market Rate, Mixed-Use: Retail-MF-Office, Office: CBD

• Tag: Conversion

• Additional Filters-Subcategory: MF: Highrise, Office: Highrise

• Additional Filters-Tags: Conversion: Office-to-Residential, Historic

The Community Development Commission has approved $98 million in TIF funding for the residential conversion of The Field Building at 135 S. LaSalle. Originally proposed by Riverside Investment and Development and AmTrustRE, local developer DL3 Realty has been added to the development team.

135 S. LaSalle, known as the Field building, is a 44-story Art-Deco style building that was designed by Graham, Anderson, Probst, and White and was completed in 1934 and designated as a Chicago Landmark in 1994. The 1.35 million square foot building has large floor plates and has over 1.125 million square feet of vacancy (83%) mostly due to Bank of America’s headquarters relocating to 110 N. Wacker.