A Los Angeles firm has acquired two Evanston office buildings in the former Research Park development.

Equitable Cos. LLC purchased the buildings at 1033 University Place and 1880 Oak Ave. from from Chicago real estate investor Richard Ross for a reported total of $19.2 million.

Crain’s Chicago Business reports the new owner plans to sell fractional interests in the properties to investors.

On average the two buildings are about 82 percent leased, and the reported sale price places works out to a value of $207 per square foot.

Bill Smith is the editor and publisher of Evanston Now.

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