Chicago is offering financial help to developers willing to convert aging office buildings into residential buildings, a new plan that could serve as a test case for other cities looking to promote these office conversions.
City officials said last week they would provide tens of millions of dollars in subsidies to revitalize the LaSalle Street corridor, its iconic office building that has been a thriving center for Chicago commerce for decades. Since the pandemic, however, the strip’s largely vacant streets and towers have come to symbolize the slow pace of workers returning to office buildings.