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.
After buying the two-building, 100,000-sf Prairie Stone Commons in Hoffman Estates in early 2005 for more than $14 million, Younan Properties spent nearly $36 million in the last six months to add the 158,879-sf One North Arlington in Arlington Heights and 140,196-sf Embassy Plaza in Schaumburg to its portfolio. "We believe Chicago is one of the country's most promising office markets," says chairman and chief executive officer Zaya Younan. "We see a significant recovery in office demand."
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