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Younan Sells 211 E. Ontario for Nearly $36M

CHICAGO-Northwestern Memorial Hospital is buying the 172,000-sf building for nearly $13 million more than Younan Properties acquired it for in 2006.

By Gina Kenny | Updated on August 06, 2008

CHICAGO-Younan Properties Inc., headquartered in Los Angeles, has sold 211 E. Ontario. The 172,000-sf office building was acquired by Northwestern Memorial Hospital. The sales price was $35.7 million.

The 18- story building, which is in the North Michigan Avenue submarket, was constructed in 1984. Younan Properties had renovated the common areas and lobby, did improvements to the lighting and “improved the image of the building,” says Zaya Younan, chairman and CEO of Younan Properties. “The building had a very nice makeover in the short time period that we owned that asset.” The estimated cost for the improvements was less than $1 million, Younan tells GlobeSt.com.

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