Redevelopment agreement with 30 N LaSalle MF Redevelopment LLC and Leslie J. Raffel Foundation to provide tax increment financing (TIF) assistance for development of property at 30 N LaSalle St

Record number: SO2026-0027303
Type: Ordinance; category: Agreements
Status: Final
Sponsor: Johnson, Brandon
Committee: Committee on Finance
Introduction Date: Jul 15, 2026
Final Action Date: Sep 23, 2026
Official record: Office of the City Clerk

Roll call: Passed Sep 23, 2026

50 yea, 0 nay. On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed. Voted at the City Council meeting of Sep 23, 2026.

Yea (50): Daniel La Spata (1), Brian Hopkins (2), Pat Dowell (3), Lamont J. Robinson (4), Desmon C. Yancy (5), William E. Hall (6), Gregory I. Mitchell (7), Michelle A. Harris (8), Anthony Beale (9), Peter Chico (10), Nicole T. Lee (11), Julia M. Ramirez (12), Marty Quinn (13), Jeylú B. Gutiérrez (14), Raymond A. Lopez (15), Stephanie D. Coleman (16), David H. Moore (17), Derrick G. Curtis (18), Matthew J. O'Shea (19), Jeanette B. Taylor (20), Ronnie L. Mosley (21), Michael D. Rodriguez (22), Silvana Tabares (23), Monique L. Scott (24), Byron Sigcho-López (25), Jessica L. Fuentes (26), Walter R. Burnett (27), Jason C. Ervin (28), Chris Taliaferro (29), Ruth Cruz (30), Felix Cardona Jr. (31), Scott Waguespack (32), Rossana Rodríguez Sánchez (33), William Conway (34), Anthony J. Quezada (35), Gilbert Villegas (36), Emma Mitts (37), Nicholas Sposato (38), Samantha Nugent (39), Andre Vasquez Jr. (40), Anthony V. Napolitano (41), Brendan Reilly (42), Timothy R. Knudsen (43), Bennett R. Lawson (44), James M. Gardiner (45), Angela Clay (46), Matthew J. Martin (47), Leni Manaa-Hoppenworth (48), Maria E. Hadden (49), Debra L. Silverstein (50)

Plain-language summary

Written by AI (claude-opus-5-5) from the ordinance text only: SO2026-0027303 Substitute Ordinance.pdf. AI can make mistakes; the official document always wins.

This ordinance changes an earlier City Council approval from January 21, 2026, for turning part of the building at 30 N LaSalle St into apartments. It replaces one of the developers, Downtown Chicago Neighborhood Council NFP, with the Leslie J. Raffel Foundation. It also replaces the original redevelopment agreement with a revised one that includes changes to the project.

Replaces Downtown Chicago Neighborhood Council NFP with the Leslie J. Raffel Foundation as co-developer alongside 30 N LaSalle MF Redevelopment LLC.
The project would create 349 rental apartments on part of the first floor and floors 2 through 18, with 105 units (30%) affordable for low-income families.
The affordable units would be about 54 studios, 42 one-bedrooms, and 9 two-bedrooms; the 244 market-rate units would be about 128 studios, 96 one-bedrooms, and 20 two-bedrooms.
The project would be partly paid for with a grant of tax increment financing (TIF) money from the area's Special Tax Allocation Fund.
Authorizes the Commissioner of Planning and Development to sign the revised redevelopment agreement; the deal had not yet closed.

Who: The developers 30 N LaSalle MF Redevelopment LLC and the Leslie J. Raffel Foundation, the replaced Downtown Chicago Neighborhood Council NFP, and future renters, including low-income families in the affordable units, are affected.

Where: 30 North LaSalle Street, Chicago, Illinois 60602

Timeline

Jul 15, 2026: Referred, City Council. The matter was Referred to Committee.
Sep 14, 2026: Substituted
Sep 22, 2026: Recommended to Pass, Committee on Finance. The matter was recommended to Pass by controlling legislative body.
Sep 23, 2026: Passed, City Council (50 yea, 0 nay), at the City Council meeting. On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed.