Chicago unveils plan to revitalize LaSalle Street in the city

[September 28, 2022]  By Andrew Hensel | The Center Square

(The Center Square) – Chicago Mayor Lori Lightfoot and city officials plan to upgrade millions of square footage of LaSalle Street downtown, using property tax revenues to pay for it.

The street upgrades will include new storefront businesses and more than 1,000 new homes, including 300 affordable units.

Lightfoot announced the plans this week.

"There are nearly 5 million square feet of vacant commercial space on the LaSalle Street corridor, but not a single unit of affordable housing," Lightfoot said. "Diversifying this corridor is essential in our strategy to restore LaSalle's vitality and create more neighborhood-serving retail."

The plan to revitalize the street will be funded in several ways, including using property taxes from Cook County.

"With city funding and resources, we can ensure that the idea and dreams of community members are incorporated as we invest in affordable housing and increased minority participation along this iconic roadway," Lightfoot said.

In 2020, the murder of George Floyd resulted in nationwide protests and looting in some areas. The Chicago Tribune reported Chicago saw at least $165 million in damages from those protests, including major damages to store fronts on LaSalle Street located in the Loop. Lightfoot said the previous years have left the city with a problem.

"We know now that the pandemic and cultural shifts have left steep challenges to this corridor," Lightfoot said. "Especially over the last few years."

The Invitation for Proposals is part of the city's LaSalle Reimagined initiative, which includes several projects like a vacant storefront pop-up public art program, a lighting design competition using the Chicago Public Art Prequalified List and more.

The plans to make over the street come on the heels of Google moving to the city after purchasing the Thompson Center. The city is listening to other business proposals for planning purposes.

"We want to engage the current owners of buildings and give us your best ideas about what you think you can do with your buildings to make them attractive," Lightfoot said.

Officials say proposals will be evaluated for city assistance based on economic viability, development team diversity and experience, design, public benefits, and other factors. The IFP due date is Dec. 23, 2022.

Andrew Hensel has years of experience as a reporter and pre-game host for the Joliet Slammers, and as a producer for the Windy City Bulls. A graduate of Iowa Wesleyan University and Illinois Media School, Andrew lives in the south suburbs of Chicago.