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Younan Moves Into Downtown Market

CHICAGO-The Woodland Hills, CA-based investment group, which has bought nearly 400,000 sf of northwest suburban office space since early 2005, picks up 211 E. Ontario St. Local brokers say the 172,000-sf building went to market at $33 million.

By Mark Ruda | Updated on May 10, 2006

CHICAGO-Younan Properties, which quickly made its mark in the suburban office market by picking up more than 400,000 sf in the northwest suburbs, has ventured Downtown. The Woodland Hills, CA-based investment group targeting class A office properties has added the 172,000-sf 211 E. Ontario St. to its portfolio, at a cost believed to be $33 million.

Zeller Realty Group paid $7.2 million in 1996 for the building off Michigan Avenue. It sold the 22-year-old building 92% occupied, with a tenant roster that includes Berman Center LLC, FireStar Communications, the Focus Centre of Chicago, LKH&S Inc., and Ruder Finn Inc.

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