THE LOOP — The 86-year-old Art Deco building at 333 N. Michigan Ave. is getting a face lift.
Designed by Holabird & Roche and built in 1928, the 35-story building was designated a Chicago landmark in 1997.
On Wednesday, the City Council approved a tax incentive to help fund the $47 million rehabilitation, which includes reconfiguring the building's entrance and renovating the lobby.
For the next 12 years, property taxes on the building will be reduced by $5.5 million to offset construction costs.
Renovations will overlap with demolition at 200 N. Michigan Ave.