Younan Properties boosts presence in Chicago

Acquires another downtown high-rise

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

Younan Properties Inc. this week announced the acquisition of 211 East Ontario, a 172,000-square-foot, class A high-rise in downtown Chicago. The value of the transaction was not disclosed. Purchased from Zeller Realty Group, 211 East Ontario is located in the North Michigan Avenue submarket. The 18-story property, built in 1984, was 92 percent occupied at the time of sale by tenants that include Berman Center LLC, FireStar Communications, The Focus Centre of Chicago, LKH&S Inc., and Ruder Finn Inc. "We continue to strengthen our position as a dominant landlord in the Chicago office market with the acquisition of 211 East Ontario," said Zaya Younan, chairman & CEO of Younan Properties Inc. "We believe Chicago is one of the country's most promising office markets. Going forward, we see a significant recovery in office demand, which is fueled by office employment growth, recovery in manufacturing output and a significant migration of population and office employment in the ne...