Taft Partner Butler Secures TIF Approval for $183.5M Adaptive Reuse Project at 105 West Adams

Taft partner Liz Butler is proud to have served as legal counsel to 105 Adams Development LLC in securing key approvals for the redevelopment of The Bankers Building at 105 West Adams, a historic office building in Chicago's Loop. The $183.5 million adaptive reuse project is one of the largest office-to-residential conversions underway through the City of Chicago's 'LaSalle Street Reimagined' initiative and Mayor Johnson's "Build Better Together"-a bold, citywide strategy for inclusive economic growth.

Liz Butler led the legal strategy on entitlements and public incentive process, securing City Council approval of $67.5 million tax increment financing (TIF) from the City of Chicago to support the project. She worked closely with City staff and agency partners to navigate complex zoning, historic preservation, and affordable housing requirements and helped build stakeholder support for the transformative redevelopment.

The Taft team representing 105 Adams Development LLC was led by Liz Butler and included Janet Stengle, Eric Singer, and Braeden Lord.

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Liz Butler's practice focuses on land use, zoning, and government relations, with a particular emphasis on projects that activate underutilized sites and deliver long-term community benefits.