LaSalle Street’s redevelopment plan may brings changes to downtown for future

LaSalle Street, long known as Chicago’s financial heart, is poised for a major transformation, with the city unveiling a comprehensive vision to revitalize the historic corridor. 

“A Vision For LaSalle Street” initiative, spearheaded by the City of Chicago’s Departments of Planning & Development (DPD) and Transportation (CDOT), aims to transition LaSalle Street from a primarily office-centric district into a dynamic, mixed-use environment that welcomes residents, businesses, and cultural institutions. Here are the key things you should know from the plan. 

A Vision for LaSalle Street

The redevelopment plan is built on 11 guiding principles that emphasize inclusivity, sustainability, and economic vibrancy. The city envisions LaSalle Street as a place where history meets innovation—maintaining its status as a financial hub while embracing residential growth, cultural spaces, and a more pedestrian-friendly design.

One of the key strategies involves repurposing more than 1.6 million square feet of vacant office space into 1,423 mixed-income apartments, backed by $250 million in Tax Increment Financing (TIF) assistance. This move is designed to increase foot traffic and foster a sense of community, ensuring that at least 30 percent of these units remain affordable for families earning around 60 percent of the area median income.

Cultural and Business Revitalization

Beyond housing, the plan includes up to $5 million in city grants for restaurant and business expansions. These funds, distributed through the Small Business Improvement Fund, will support five restaurant expansions and a new museum in the Board of Trade building, aiming to create a more inviting and lively atmosphere.

To further enhance LaSalle Street’s appeal, public realm improvements will include new landscaping, public art, and enhanced lighting designed to make the corridor a “smart street.” These upgrades are intended to make the street safer and more inviting, particularly in the evenings when the area has traditionally quieted down after business hours.

Transforming Public Spaces and Connectivity

A major component of the vision is to turn LaSalle Street into a 24/7 neighborhood, moving beyond its current nine-to-five identity. The city aims to boost nightlife through creative lighting, event programming, and expanded pedestrian spaces. The goal is to make LaSalle Street a round-the-clock destination that remains vibrant even after office workers head home.

The plan also prioritizes transportation connectivity. With extensive public transit access already in place, the city is exploring ways to make the roadway more welcoming for all users—whether pedestrians, cyclists, or transit riders. The effort seeks to create a seamless connection between LaSalle Street, the Chicago Riverwalk, and key civic spaces like City Hall.

Balancing History with Modernization

LaSalle Street is home to some of Chicago’s most iconic architecture, including The Rookery, The Field Building, and the Chicago Board of Trade. The city’s strategy embraces both the preservation of these historic landmarks and the integration of modern urban planning elements. Public art, cultural programming, and innovative use of space will celebrate LaSalle Street’s past while positioning it as a forward-thinking district.