30 N. LaSalle

30 N. LaSalle St, Chicago, IL 60602

Score44

C·Deprioritize

Snapshot

Year built: 1974
Original use: Office
Redevelopment: 349 apartments on lower 22 floors (above offices)
Status: City Council approved April 2025
TDC: $135.0M
Units: 349 total · 105 affordable (30%)
Developer: Golub & Co. + AIG
Developer tier: B
Last updated: 2026-05-20

What Monarch would syndicate

Additional credits not yet quantified

LIHTC (4% / 9%)

Deal capital structure (context)

Non-syndicated capital sources on this deal. Listed for awareness; not part of what Monarch writes a check for.

TIF· city subsidy
$57.0M

Scoring

Scored 0-103 across 5 categories. ≥70 = term-sheet ready. ≥55 = watchlist. Full rubric in Methodology.

Credit stack density5 / 30
LIHTC
Historic readiness0 / 20
Not yet historically certified
Policy environment18 / 18
State Tier A + LaSalle/RERZ bonus
Developer relationship10 / 15
Tier B established
Size and feasibility11 / 20
TDC adjacent to modal band + ≥30% affordable

Total44

CDeprioritize

Recommended action

DEPRIORITIZE for HTC pillar.

The model correctly filters this out: 1974 construction means no federal or state HTC eligibility. May still be relevant to Monarch's LIHTC pillar via the 4% / MRB structure, but the credit stack is thin compared to the four neighboring deals. Use this as a calibration example showing the scoring system correctly distinguishes historic vs. non-historic.

Similar past deals

No direct comps in the Monarch portfolio. This deal would be precedent-setting.

Sources

https://blockclubchicago.org/2025/04/16/2-more-lasalle-street-buildings-to-be-converted-into-apartments-after-city-council-approves-funding/

deal.id: 30-n-lasalle · scored 2026-05-20 17:31 UTC · last refreshed 2026-05-20 · source: pipeline.json