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CHICAGO—In June, GlobeSt.com reported that Chicago-based Urban Innovations, a company with deep roots in River North, had repurchased, for about $14 million, several office buildings in the West Loop’s Greektown neighborhood that the firm had sold to an out-of-town investor in 2005 for about $18 million. The out-of-towners had suffered during the recession, and their lack of capital helped push the buildings into decline, and by the time bank took over, the vacancy rate hit 30%.

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