The Negotiator (1998):
Chicago's two top negotiators must face each other. One of them is holding hostages. The other is demanding surrender.
In a desperate attempt to prove his innocence, a skilled police negotiator accused of corruption and murder takes hostages in a government office to gain the time he needs to find the truth.

The building where Danny holes up is at Wacker and Clark; police cars seen, ostensibly "to the scene," are actually speeding south on Wabash at Van Buren - a point already south of the building.