The Loop's Bankers Building Is Now A Chicago Landmark

The Chicago City Council officially designated the Bankers Building a landmark, allowing for its partial conversion into housing. The $183. 5 million renovation will add 400 apartments, with 120 earmarked as affordable, contributing to the LaSalle Street revitalization initiative. This historic Art Deco tower, completed in 1927 by the sons of architect Daniel Burnham, is one of six Downtown buildings receiving tax-increment financing. The project will also include nearly 30,000 square feet of commercial space on the ground and second floors, potentially housing a grocery store and restaurant.

An amenity space is planned for the 24th floor, with developers exploring options for outdoor areas on the adjacent roof. Additionally, the project plans for 195 bicycle parking spaces to promote sustainable transportation. The City Council's approval reflects a significant step in enhancing the residential landscape of Downtown Chicago. The $67. 5 million in tax-increment financing highlights the city's commitment to urban revitalization and affordable housing.