LaSalle Street in the Loop has for decades been home to Chicago’s financial district.
As firms and other businesses have started locating their offices in other parts of town, and with the massive shift in work patterns driven by COVID-19, the eight-block stretch has become home to more vacancies than any other part of downtown.
Now, the city has an ambitious plan to spur development and make the financial district a place to live, not just to work: LaSalle Street Reimagined. The idea is to convert some of the massive amounts of unused commercial space on LaSalle into 1,000 residential units, followed by incentives including tax credits and an existing TIF district.
The idea isn’t just about places to live, but places to eat and shop with the hope of breathing new life onto a street that’s seen big changes.