January 15. 2013 1:00PM - Last modified: January 15. 2013 1:25PM

FAA building near O'Hare sells for $39 million

A Los Angeles investment firm paid $39 million for a Des Plaines office building that has served as the Federal Aviation Administration's Great Lakes regional headquarters for more than four decades.

Saban Capital Group Inc. acquired the four-story, 239,331-square-foot building at 2300 E. Devon Ave. on Dec. 26 from a venture of Robert Kozonis, owner of Hoffman Estates-based Amcraft Construction Co., Cook County records show.

The building in the O'Hare Lake Office Park is about 94 percent leased, mostly to the FAA, which has been a tenant there since 1971, according to the Chicago office of Houston-based Transwestern Commercial Services LLC. Transwestern managing directors Gary Nussbaum and Thomas Gorman brokered the sale.

Read more in Crain's Chicago Business.