Ken Griffin Lists Chicago Penthouse, Priced to Lose Millions

Ken Griffin has made back-to-back moves in his effort to offload the remainder of his Chicago residential holdings.

The billionaire hedge fund manager has placed his 37th-floor penthouse at No. 9 Walton on the market for $9 Million, or $1,200 per square foot, just two days after securing a buyer for the 38th-floor, Crain’s reported.

The listing spans 7,500 square feet and is being managed by Nancy Tassone of Jameson Sotheby’s International Real Estate and Emily Sachs Wong of @properties Christie’s International Real Estate. This condo and two other floors that are for sale, 35 and 36, are unfinished, a blank slate for the potential buyer.

Griffin purchased four floors in the tower, located at 9 West Walton, for a record $58.5 million in 2018. He paid $12.7 million ($1,686 per square foot) for the 37th floor, so he would lose $3.7 million if it sells for the asking price.

Griffin has faced similar losses on other properties in his Chicago portfolio, including a $6.9 million loss on the sales of his units at the Waldorf Astoria and Park Tower.

The 38th-floor penthouse could also add another hit to Griffin’s real estate portfolio, as it was purchased for nearly $21.2 million and is now under contract for $11 million. Depending on the final sale price, Griffin could lose $10 million on the unit.

Griffin relocated Citadel and his personal residence to South Florida, where he has invested heavily in ultra-luxury real estate. He has an estimated net worth of $43 billion, according to Forbes.

— Andrew Terrell