Restaurateur Orders Up Another High Bid

CHICAGO-Restaurateur and investor Reza Toulabi, whose $2.78-million-bid was tops for the parking garage with ground-floor retail space at 9 W. Kinzie St., has picked up another River North location. Toulabi has acquired the seven-story timber-loft office building at 325 W. Ohio St. for $9.5 million from Svigos Asset Management LLC, which paid $8.75 million for the 105,000-sf property earlier this summer.

Inland Real Estate Auctions, Inc. handled both sales of 325 W. Ohio St., first for long-time owner Bowne & Co., Inc., then again for Svigos Asset Management, which also hands off engineering plans and market study for approximately 200 multifamily units for a conversion.