Billionaire Ken Griffin on Friday sold an 8,000-square-foot condominium on the 66th floor of the Park Tower building on the Near North Side for $11.2 million — easily the highest Chicago-area home sale price in this new year.
Griffin, who recently relocated his hedge fund firm, Citadel, and his family to south Florida after complaining about crime in Chicago, took a meaningful loss on the unit, which he bought for $15 million in 2012. That means that his sale price on Friday was more than 25% less than he paid for the unit more than a decade earlier.
Griffin now has unloaded the second of four high-priced condominium on the Near North Side that he recently placed on the market — all of which were listed for more than $11 million each. In October, Griffin sold his five-bedroom, 7,400-square-foot full-floor condo on the 37th floor of the Waldorf Astoria — which had been Griffin’s most recent legal residence — to an opaque Delaware limited liability company for $10.22 million, which was $1.27 million below his asking price and $3.07 million, or 23%, less than the $13.3 million that Griffin had paid for that condo in 2014.
Still on the market are a 9,250-square-foot, full-floor penthouse condominium on the Park Tower’s 67th floor, which is available for $15.75 million, and a 7,085-square-foot unfinished condominium on the 35th floor of the building at 9 W. Walton St., which is listed for $14 million. Griffin continues also to own the 36th through 38th floors of the building at 9 W. Walton St., and there’s no word yet on when or if he will place those for sale.
As for the 66th-floor Park Tower unit, Griffin first listed it in July for $13.25 million, and he struck the deal to sell it in November. The unit is raw space — Griffin bought it 12 years after his $6.9 million purchase in 2000 of the Park Tower’s 67th-floor unit, which at one time was his family’s residence. However, Griffin never built out the 66th-floor unit, which has 13-foot ceilings, 360-degree views and 550 square feet of outdoor space.
Listing agent Susan Miner of Premier Relocation did not immediately respond to a request for comment.
The 66th-floor unit had a $165,124 property tax bill in the 2021 tax year.
Bob Goldsborough is a freelance reporter.
Join our Chicago Dream Homes Facebook group for more luxury listings and real estate news.
