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Billionaire Ken Griffin Takes an 8-Figure Loss on Sale of Chicago Penthouses
In a $19 million deal, hedge fund billionaire Ken Griffin has sold two of his four units at luxury Chicago high-rise condominium No. 9 Walton, the Wall Street Journal reports. The sale marks a 44% loss for the Citadel founder, who paid over $34 million for the penthouse residences in 2017. Though he spent a total of $58.75 million for the four unitsbreaking the record for the citys priciest home sale that yearthe Florida native reportedly never lived on the premises.Griffins purchase, which included a deal with the buildings developer to expand the penthouses, was delivered as a shell so that it could be fully customized to the hedge fund managers preferences, per the WSJ. Griffin never began renovations, however, and the four units still sit empty and unfinished. Griffins other two units in the 38-story building have yet to sell.Spanning roughly 15,000 square feet in total, the two recently-sold units feature 16-foot-tall windows, four terraces, a rooftop swimming pool, and a private elevator connecting them. Their new owner, who was not named, now has a blank canvas to make the penthouse duplex of their dreams. They also have access to some luxe amenities, which include a gym, a house car and driver, a golf simulator, a sauna, and a dining room with a catering kitchen.Register TodayAD PRO's 2025 Interior Design Forecast is almost hereArrowThe sale comes two years after Griffin announced that he was moving Citadels headquarters from Chicago to Miami. I am excited to have recently moved to Miami with my family and look forward to rapidly expanding Citadel in a city so rich in diversity and abounding with energy, the businessman reportedly said in a statement to the hedge funds employees. Griffin owns numerous plots on Miamis ultra-exclusive Star Island and is building a tower in the citys Brickell neighborhood to house Citadels offices as well as a luxury hotel, spa, restaurants, and retail space.
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