Billionaire Ken Griffin revealed as buyer of Chicago’s priciest home

The founder and CEO of Citadel's preference for unfinished condos continues

Miami /
Jan.January 13, 2018 09:00 AM

Ken Griffin and a rendering of No9 Walton (Credit: JDL Development)

Daytona Beach-born hedge fund manager Ken Griffin bought the top four floors of JDL Development’s unfinished Chicago condo tower, No. 9 Walton, for $58.5 million.

The deal, which took place in November 2017, is the most expensive home sale ever made in the Chicago area — and, according to Crain’s Chicago, the bill could climb even higher to around $80 million as the expansive unit still needs to be finished. (The previous record-holding sale was a four-acre estate in Glencoe which sold for $19.5 million in 2014.)

Griffin’s condo, one of a handful of the building’s 71 units that was purchased unfinished, has 12 to 18-foot high ceilings — an element that seems to have been customized for Griffin, reports Crain’s — with outdoor areas on each floor, panoramic views and a private pool.

The purchase in Chicago, Griffin’s primary base from which he heads Citadel, a hedge fund with upwards of $27 billion in assets under management, comes amid a spate of big buys over the past several years, most notably his under-construction Palm Beach estate — an assemblage of five contiguous oceanfront properties he bought up since 2012 — which, to date, has cost him almost $230 million. When complete, the 55,800-square-foot mansion on Blossom Way will be longer than a football field.

But buying unfinished condos seems to be trend for Griffin: in 2015, he bought two penthouses in Faena House for $60 million with the intention of combining the units, though he ended up re-listing them for $73 million months later. Also in 2015, Griffin snapped up three floors of 220 Central Park South in Manhattan for $200 million.

But who’s counting? As of this year, Forbes pegged his net worth at $8.7 billion. [Crain’s] — Erin Hudson


Related Articles

arrow_forward_ios
Elliott Management's Paul Singer, Microsoft CEO Satya Nadella and Citadel's Ken Griffin (Getty)
Microsoft, Citadel and Elliott Management among firms expanding in South Florida
Microsoft, Citadel and Elliott Management among firms expanding in South Florida
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)
South Florida’s pandemic-fueled residential market poised for bull run in 2021
South Florida’s pandemic-fueled residential market poised for bull run in 2021
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)
Kate Ford’s Palm Beach estate sells for $55M
Kate Ford’s Palm Beach estate sells for $55M
Ken Griffin with Faena House at at 3315 Collins Avenue (Photos via Getty; Google Maps)
Billionaire Ken Griffin parting with Faena House penthouses in Miami Beach at a loss
Billionaire Ken Griffin parting with Faena House penthouses in Miami Beach at a loss
Ken Griffin and lots on Star Island Drive (Citadel, Google Maps)
Ken Griffin adds to Star Island assemblage with $25M purchase: sources
Ken Griffin adds to Star Island assemblage with $25M purchase: sources
Oprah Winfrey and (inset) Lawrence Stroll over the unit (Getty)
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
Gables Town Colony apartment complex, Sue Ansel of Gables Residential
Gables Residential scores $85M loan for Boca Raton apartment complex
Gables Residential scores $85M loan for Boca Raton apartment complex
Ken Griffin and 60 Blossom Way (Credit: Google Maps)
Hedge funder Ken Griffin snags $49M mortgage for Palm Beach estate
Hedge funder Ken Griffin snags $49M mortgage for Palm Beach estate
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...