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Younan Ditches 30-Story Tower for $101M

CHICAGO-The Woodland Hills, CA-based company had a large past-due loan on the 645,170-square-foot office building at 200 N. LaSalle.

By Robert Carr | Updated on April 17, 2012

CHICAGO-Almost a year to the day that Zaya Younan, chairman and CEO of Woodland Hills, CA-based Younan Properties Inc., told GlobeSt.com that he planned on pushing more into the Chicago market, he has sold his largest office here. Onni Group, based in Vancouver, purchased the 30-story 200 N. LaSalle tower for a reported $101 million.

Younan admitted he had some trouble with financing properties after the downturn, but in an April 18, 2011 interview, he said that he planned on purchase more properties in Chicago. However, Younan reportedly owed $86 million on a past-due loan for 200 N. LaSalle. Onni reportedly bought the tower through a $70 million loan through HSBC Bank.

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