Billionaire hedge money head Ken Griffin is taking a deed connected his Chicago existent property portfolio arsenic he offloads luxury properties successful a marketplace that’s giving him much headaches than returns.
Griffin, who has relocated some his family and Citadel office to Miami, precocious recovered a purchaser for his unfinished penthouse astatine 9 West Walton.
The 38th-floor, paradise-in-the-planning was listed astatine $11 cardinal — a humiliating half of what he forked complete for it, backmost successful 2017.
Griffin initially paid $21.2 cardinal for nan 7,500-square-foot top-floor unit, but now faces a nonaccomplishment of astir $10 cardinal if nan woody closes astatine aliases adjacent nan existent price.
The titan made headlines successful 2018 for his four-floor, $58.5 cardinal finance astatine nan luxury building successful nan city’s exclusive Gold Coast vicinity — nan biggest residential existent property woody successful Chicago’s history.
The heavy discount is only nan latest hurdle for nan erstwhile Windy Citian.
His attempts to waste different units successful nan building person truthful acold been unsuccessful. The luxury marketplace successful Chicago has been slow-moving, particularly compared to basking markets for illustration New York and Miami.
Two days aft uncovering a purchaser for his 38th-floor property, Griffin put his 37th-floor portion connected nan marketplace for $9 cardinal — good beneath nan $12.7 cardinal he shelled retired for it successful 2018, according to The Real Deal.
Griffin’s antecedently mislaid $6.9 cardinal connected 2 different section properties — located astatine nan Waldorf Astoria Chicago and 800 N. Michigan, besides known arsenic Park Tower, location to nan Park Hyatt Chicago.
As Griffin’s Chicago spot woes continue, things are looking amended successful his caller home, according to a spokesperson.
“While nan worth of Ken’s properties successful his erstwhile hometown whitethorn person declined, thankfully it is only a mini nonaccomplishment compared to nan appreciation he’s enjoyed connected his spot investments successful Florida,” Zia Ahmed told Bloomberg.
Despite nan setbacks, Griffin, whose luck is weighted astatine a staggering $43 billion, is acold from crying complete spilled milk.
He’s been aggressively investing successful Miami, dropping astir $300 cardinal connected respective properties, including lavish estates connected Star Island and Coconut Grove.
And The Post previously reported that nan hedge money titan is besides building nan astir costly location successful nan world successful Palm Beach, worthy an estimated $1 billion.