Billionaire Ken Griffin Sells Chicago Penthouse at a Loss

Billionaire hedge fund manager Ken Griffin has sold his luxury penthouse in Chicago's No. 9 Walton condo tower for a big loss. The deal closed at $19 million, which is a whopping 44% less than the $34 million he paid in 2017. This sale is part of Griffin's plan to leave Chicago, following Citadel's move to Miami in 2022. The penthouse, which covers the 38th and 39th floors, was meant to be a customized dream home with luxury amenities. But the project never took off, and the space remains unfinished. This isn't the first property Griffin has sold in Chicago. He recently offloaded a unit at the Waldorf Astoria for a loss too. Griffin has been vocal about his concerns over Chicago's leadership, blaming poor political decisions for the city's issues, including rising crime. The sale coincides with a downturn in Chicago's luxury condo market, with prices dropping significantly. Despite his Chicago retreat, Griffin is busy expanding his real estate portfolio in other cities like New York and Miami, and even internationally. He's also setting up a new base for Citadel in his home state of Florida.