The Commission on Chicago Landmarks has approved the final certification for tax incentives for the Chicago & North Western Railway Office Building at 226 W Jackson Boulevard in the heart of downtown The Loop. The historical building recently went through a full rehab converting it into a dual-flag Hilton hotel, located on the corner of Jackson Boulevard and S Franklin Street. The approval grants the project a Class L Property Tax Incentive which will provide it with tax breaks for the next 12 years.
Phoenix Development Partners
Renovation work is wrapping up at 226 W Jackson Boulevard in The Loop, where Phoenix Development Partners is converting a former 14-story office building to two Hilton hotels. The classically-styled edifice, originally built in 1904, long served as the headquarters for the Chicago and Northwestern Railroad, and then later as the headquarters for the City Colleges of Chicago. Today it is classified as a national historic landmark, whose exterior is being refurbished and retained in exchange for Class L tax incentives.
Conversion work is nearing completion for the Phoenix Development Partners project at 226 W Jackson Boulevard in The Loop, where the developer has planned to convert a former 14-story office building into two separate hotels. The original 238,000-square-foot edifice was constructed in 1904 and is classified as a National Historic Landmark. Prior to the conversion, the structure housed the headquarters of the Chicago and Northwestern Railroad, then later the headquarters for the City Colleges of Chicago.
Photos show continued work at 226 W Jackson Boulevard in The Loop, the site of Phoenix Development Partners‘ planned conversion of a 15-story office building into a space for two Hilton hotels. The original 1904 limestone and terra cotta structure was designed by Frost & Granger, and housed offices for both the North Western Railway and City Colleges of Chicago up until its re-designation. As part of the conversion, the developer agreed to rehabilitate the exterior walls of the landmarked buildings in exchange for Class L tax incentives.