City of Chicago, IL
07/15/2026 | Press release | Archived content
Landmark Designation, Tax Incentive Approved for Near West Side’s Chicago Daily News Building
The former Chicago Daily News building on the Near West Side was designated as an official Chicago landmark today by City Council.
Located at 2 N. Riverside Plaza, the Art Deco skyscraper was designed by Holabird & Root and completed in 1929 as the home of the Chicago Daily News, helping to establish Chicago as a center for media and architecture. It was the first office building in the city built above railroad tracks and the first to have a public plaza.
The building is undergoing a $69.7 million commercial rehabilitation by 2 N Riverside Owner LLC. In support of the work, a Cook County Class L property tax incentive also approved by City Council today will reduce taxes on the property by $25 million over its 12-year term. Over the period, the building is expected to generate more than $1.8 million in additional taxes than if the rehabilitation work did not occur.
The Class L incentive encourages the preservation and reuse of designated City landmark.
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