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Roanoke Earns Chicago Landmark Designation

CHICAGO-The designation means that 11 S. LaSalle St. will receive approximately a 50% reduction in real estate taxes for 12 years.

By Gina Kenny | Updated on January 24, 2008

CHICAGO-The Roanoke Building, 11 S. LaSalle St., has been designated a Chicago landmark. The Chicago City Council recently approved the designation. The building had already been listed on the National Register of Historic Places. Now, with the landmark status, Prime Group can receive a federal tax credit of 20% of renovations and receive approximately a 50% reduction in real estate taxes for 12 years, says Michael Reschke, chairman and CEO of Prime Group.

The building was designed by architectural firm Holabird & Roche and is the city’s only example of Portuguese Gothic architecture. The original 16 stories were constructed in 1915. In 1922, the building was increased to 21 stories, then to its current 37-story height in 1925. The 330,000-sf building was acquired by an affiliate of the Prime Group in 2006 for $19.1 million, as previously reported by GlobeSt.com.

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