Field Building Revitalization Partners, LLC, a joint venture between Riverside Investment & Development, AmTrustRE, and DL3 Realty, secured City Council approval for a TIF redevelopment enabling the adaptive reuse of the landmarked 135 S. LaSalle St. in Chicago’s CBD.
The historically significant, 1.35-million-square-foot Art Deco masterpiece, known as the Field Building, will be converted from vacant office space to modern residential units in what will be one of the largest conversions of its kind in the U.S. when it gets underway in spring 2026.
The development team will convert 624,000 square feet of office vacancy into 386 residential units and 92,000 square feet into commercial space, blending timeless Art Deco architecture with modern design, amenities, and conveniences to appeal to the high density of nearby young professionals. The 430,050 square feet of residential space will feature a mix of studio, one-, and two-bedroom units. Resident amenity spaces will be located on floors 5, 25, 43, and 44 and rival the city’s leading luxury properties.
In addition, the project will also play a unique role in the downtown revitalization, activating the street with round-the-clock energy via a 92,000-square-foot neighborhood retail hub spread across three levels, including a museum-quality Main Arcade. This new retail collection will offer food and beverage options, a small-format grocer, a health/fitness club, and other complementary uses to serve residents and the local workforce alike. Parking for 177 cars will be located on floors three and four.
The centerpiece of LaSalle Street developments has a total budget of $241.5 million and is supported by $98 million in city subsidies and historic tax credits. Delivery is slated for summer, 2027.
Most recently Bank of America’s Midwest headquarters, the Field Building was planned amid the exuberance of the Roaring ‘20s and built during the Great Depression. It opened in 1934 as Chicago’s largest and most advanced office tower and the fourth largest in the U.S. It was designed by Graham, Anderson, Probst, & White and designated a Chicago Landmark in 1994.
SCB is the architect on the redevelopment.
