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Council places TIF redevelopment agreement on file for Montgomery Ward building at 800 LaSalle
Summary
Council received a TIF redevelopment agreement with Coyle Investments LLC for the Montgomery Ward building at 800 LaSalle Street and placed it on file. Council members said developers plan historic-preservation-oriented renovations and will use the River's Edge Zone incentives.
The council received and placed on file a tax-increment financing (TIF) redevelopment agreement between the city and Coyle Investments LLC for the property at 800 LaSalle Street (the Montgomery Ward building). Council discussion noted developers plan to preserve historic elements, pursue tenants for the first and upper floors and to utilize the city's River's Edge Zone incentives.
A council speaker described the project as preserving "the historic architecture of the building" and said developers already have a first-floor tenant and are working on plans for other spaces. The council placed the TIF agreement on file by unanimous roll call; the filing allows the development process to proceed under the terms presented to the council.
