Ken Griffin Finds Buyer for Last Chicago Condo Asking $12.5M

Billionaire Ken Griffin landed a buyer for his penthouse at Park Tower, selling his last holdout of listed Chicago property three years after he headed south.

The 67th floor unit at 800 North Michigan Avenue is under contract with an undisclosed buyer, with a $12.5 million listing price. The six-bedroom, seven bathroom Streeterville condo spans 9,250 square feet.

Griffin, the Citadel founder, left Chicago and moved his business to Miami in 2022, citing concerns about crime in Chicago. He has been offloading his portfolio of downtown properties in the years since. Forbes pegs his net worth at $49.8 billion.

If $12.5 million is the final closing price on the penthouse, it would be the most expensive sale for a single condo in downtown Chicago in at least three years, as the area has struggled to gain its footing since its pandemic-era heights. Gov. J.B. Pritzker’s combined purchase in November 2024 of two units from Griffin at 9 West Walton Street for $19 million was the only recent sale with a higher price.

Susan Miner of Premier Relocation and Real Estate Services, the listing agent on the Park Tower condo, did not return a request for comment.

Griffin sold the 66th-floor penthouse, below the 67th floor penthouse, at Park Tower to George Lucas in 2023 for $11.2 million, taking a loss on the $15 million he paid for the unit in 2012. Lucas and his wife, Mellody Hobson, bought the unit to combine it with their 65th-floor penthouse that they bought in 2015.

Griffin also sold the top four floors at No. 9 West Walton — including the sale to Pritzker — over the last year for a combined $35 million, losing more than $20 million from his 2017 purchase price for the units.

The 67th-floor condo at Park Tower was listed in 2022 asking $15.75 million. It was on and off the market at the same price in the years since then, and was last taken off the market in July. On Wednesday, the listing went back up, showing it was under contract at the new $12.5 million price.

The sale would mark one of a string of condo sales in Chicago this year after a long slump in recent years. Property prices have tanked as concerns about crime and work-from-home norms have kept buyers out of downtown. Buyers have been showing more interest in downtown luxury properties, but they are still selling well below their sale prices of two or three years ago.

Other recent downtown sales include a 79th-floor St. Regis condo that sold for $7.5 million, and another at that building that Siri co-founder Dag Kittlaus purchased for $9.25 million. Former Chicago Bulls star Zach LaVine sold his 28th-floor condo at 9 West Walton in November for $6.4 million, taking a half-million dollar loss on the unit from his purchase price in 2022.

This most recent pending penthouse sale would land Griffin a better return than his other Chicago selloffs. He paid $6.9 million for the condo in 2000, representing a roughly 80 percent gain over the past 25 years.