CHICAGO-A Chinese investor has added a Bannockburn building to its portfolio. The Elgin-based investment unit of Wanxiang America Corp., an affiliate of Wanxiang Group Corp., took control of the Bannockburn Executive Plaza, a 127,300-square-foot office building at 2275 Half Day Road, through a deed-in-lieu of foreclosure.
Wanxiang paid nearly $4 million in May for a $10.5-million loan on the building. The previous owner of the building, a venture controlled by Harry Dolan of Dolan Associates Ltd., defaulted on the loan in 2011. For the full story, go to Crain's Chicago Business .
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