The JW Marriott hotel at 208 S LaSalle Street in The Loop has officially been put up for sale. Located within the historical Continental and Commercial National Bank on the intersection with W Adams Street, the building is also part of the LaSalle Street Reimagined initiative. The sale is being led by Jones Lang LaSalle (JLL) according to Crain’s.
Additional renderings have been revealed for the residential redevelopment of 208 S LaSalle Street in The Loop. Located on the intersection with W Adams Street, the project is part of the larger LaSalle Street Reimagine initiative which recently received approval. Dubbed The LaSalle Residences, the project is being led by developer The Prime Group.
The Chicago Community Development Commission has approved initial financing for the rest of the LaSalle Street Reimagined projects moving forward. Earlier this week we covered the first two approved projects, and today we will cover the last two. Those include the proposals at 208 S LaSalle Street and 111 W Monroe Street all within The Loop.
On Wednesday, April 3rd, Mayor Brandon Johnson announced the selection of four developments for the LaSalle Street Reimagined initiative. These projects aim to rejuvenate the area by brining residents into the corridor after pandemic vacancies, utilizing $151.2 million in tax-increment financing funds. The office-to-residential developments will repurpose underused office buildings and adding over 1,000 new residential units, including at least 319 affordable units. Pending approval by the City Council, completion is slated for 2027 as reported by WTTW News.
The Loop’s LaSalle Street is set to undergo a significant transformation, with the city announcing three winning proposals as part of the LaSalle Reimagined initiative. These mixed-use makeovers will receive $188 million in tax-increment financing (TIF) dollars and will add 1,059 apartments to the financial district, with 317 of them being affordable.
