Committee on Economic, Capital and Technology Development - 2026-07-09
Approves Class L tax incentive for 2 North Riverside Plaza, unanimous
What happened
The Committee on Economic, Capital and Technology Development recommended approval of a Class L tax incentive for the landmark Art Deco building at 2 North Riverside Plaza, a ~$70 million rehabilitation by Blue Star Properties (~$28 million total tax abatement over 12 years, $6.3…
- Jurisdiction
- Chicago, IL
- Governing body
- Final authority
- Date
- July 9, 2026
- Decisions
- 5 zoning decisions
- Outcome
- Approved, unanimous
Meeting Summary
The Committee on Economic, Capital and Technology Development recommended approval of a Class L tax incentive for the landmark Art Deco building at 2 North Riverside Plaza, a ~$70 million rehabilitation by Blue Star Properties (~$28 million total tax abatement over 12 years, $6.3…
Key Decisions (5)
SSA appointments and reappointments (Items 1-13)
SSA 21-2016 Lincoln Square budget amendment
Class L tax incentive for 2 North Riverside Plaza
Development Activity (1)
2 North Riverside Plaza landmark rehabilitation
Commercial
Market Signals (4)
Commercial Demand
The former Chicago Daily News building at 2 North Riverside…
Sentiment
The city continues to use Class L historic tax incentives…
Infrastructure
SSA budgets are being strained by Cook County delays in…
Commercial Demand
Taiwan trade officials signaled interest in routing supply-chain investment (AI,…
Who Spoke (20)
On the record: 2 staff members, the clerk, the applicant, and 9 members of the public.
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