Wanda Group Sells St. Regis Condos in Chicago

Dalian Wanda Group, an early co-developer of the St. Regis Chicago, sold a group of condos at the downtown high-rise.

Property records show the Chinese conglomerate sold the units at the 101-story skyscraper at 363 East Wacker Drive for $47.5 million. Completed in 2020, the building has 393 units, along with a 192-key hotel operated by Marriott International.

Wang Jianlin’s Wanda Group owned 37 condos in the building and had previously marketed them as a bulk sale. It’s not clear whether the sale included all 37 units or only a portion of them. For the full group, the sale price would come out to $1.3 million per unit.

The sale price and the buyer and seller were recorded in a state database of property transfers, but The Real Deal was not able to obtain the deed with additional details. Wanda Group could not be reached for comment.

The buyer of the condos is listed as CPE Stage Investments in state records. CPE is the name of a Chinese investment firm, previously known as CITIC Private Equity, but TRD was not able to confirm the buyer’s identity.

Wanda Group put up the group of condos for sale in March, originally tapping Newmark to market the properties. Chuck Johanns of Newmark said the firm was not involved in the final sale.

The bulk offering included five one-bedroom units, five two-bedrooms, 18 three-bedrooms, five four-bedrooms and four penthouses. The condos were never listed for sale individually before being put up as a group.

Wanda originally invested in the Jeanne Gang-designed skyscraper in 2016 alongside Chicago-based Magellan Development Group, intending to use the building for its first U.S.-based hotel under the Wanda Vista brand. After China tightened regulations on overseas investments, Wanda sold its 90 percent stake in the building to Magellan in 2020 for $270 million.

The bulk sale comes a year after Magellan sold its remaining 84 units to Denver-based GD Holdings, the real estate arm of Mexican clothing company Grupo Denim. Those condos sold for $117 million, about $3.2 million per unit.

The St. Regis has picked up momentum this year after a long slump in the downtown condo market. A 79th-floor penthouse sold for $7.5 million in September. In October, Siri co-founder Dag Kittlaus bought an 84th-floor penthouse there for $9.25 million, property records show.

Both purchases came from GD Holdings’ portfolio, and at least five more GD Holdings units have sold for more than $5 million each this year, property records show.

In 2022, Mexican mining CEO German Larrea purchased a two-story, 10,000-square-foot penthouse spanning the 71st and 72nd floors for $20 million, the priciest sale on record at the building. Other notable sales include the 76th-floor unit that sold for $8.3 million in 2025, the 91st floor that sold for $9.2 million and the 87th floor that sold for $9 million, both in 2022.

The 78th floor penthouse sold for $7 million in 2024, a loss for the sellers who purchased it at $8.2 million.