30 N LaSalle Street Chicago Office-to-Residential Conversion

Deal value: $205,000,000

Acquisition of 30 N LaSalle Street for conversion of 432,000 SF office tower into 432 residential units with retail and amenities.

The core motivation is to capitalize on the structural shift in downtown office demand, driven by remote work and high office vacancy rates. The strategic purpose is to revitalize Chicago’s Loop by converting underutilized office space into much-needed residential units, including affordable housing, while leveraging city incentives and aligning with the LaSalle Street Reimagined initiative. This investment is happening now due to favorable policy support, strong demand for urban living, and the opportunity to preserve historic architecture.