Chicago City Council approved an ordinance authorizing City financing for the construction of a market-rate housing project at 208 S LaSalle Street. The financing will support a new multifamily development led by 208 LaSalle Market Landlord, LLC, with The Prime Group, Inc. serving as developer. Ownership will be held by 208 LaSalle Owner, LLC, and significant equity is provided by RCP Holdings, LLC, Michael W. Reschke, and Edward J. John. The authorization directs the Department of Housing to execute funding agreements, enabling timely commencement of construction. This measure leverages public resources to catalyze private investment in the Loop, diversifying the downtown housing stock. It demonstrates the City’s strategic use of economic development tools to stimulate growth along the South LaSalle corridor.