CHICAGO-Almost a year to the day that ZayaYounan, chairman and CEO of Woodland Hills, CA-basedYounan Properties Inc., told GlobeSt.com that heplanned on pushing more into the Chicago market, he has sold hislargest office here. Onni Group, based inVancouver, purchased the 30-story 200 N. LaSalletower for a reported $101 million.

Younan admitted he had some trouble with financing propertiesafter the downturn, but in an April 18, 2011 interview, he saidthat 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 millionloan through HSBC Bank.

In a statement Tuesday, Younan described the sale as part of a“capital recycling program” which furthers the company’s statedstrategy of realigning its portfolio and reducing leverage. “Overthe past year, we have made significant progress in deleveragingour portfolio, opportunistically recycling capital, strengtheningour balance sheet and securing a sustainable platform on which togrow,” he said.