Ken Griffin Relocates Company HQ To Miami

Billionaire Ken Griffin is officially wrapping up his exit from Chicago as he prepares to sell his last remaining property in the city. The Citadel CEO, who moved his company’s headquarters to Miami in 2022, has now put his luxury condo at 800 North Michigan Avenue under contract, according to a spokesperson who spoke to Bloomberg.

Griffin originally purchased the condo, a full-floor penthouse, for $6.9 million back in 2000. It was once considered the “crown jewel” of Chicago’s Park Tower. After taking it off the market in July, Griffin reportedly dropped the asking price by $3.25 million. The current sale price is said to be around $12.5 million, though final details have not been confirmed.

If the deal goes through, it will mark the final step in Griffin’s move out of the city where he once held multiple properties. His departure began before Citadel’s relocation, when he started selling off his real estate in Chicago. In most cases, including this one, the sales came at a loss or at a lower value than expected.

Griffin, whose estimated net worth is about $48 billion, cited many reasons for moving to Florida. He has been public about concerns related to safety, schools, and city governance in Chicago. While speaking to Bloomberg, Griffin said he had been dedicated to the city for over 30 years but described its recent decline as “anarchy under poor governance.”

The only remaining piece of Citadel’s presence in Chicago is its former headquarters at 131 South Dearborn. Most of the company’s operations are now centered in Miami, where Griffin is planning a major expansion. He shared that Citadel intends to build a new tower in the Brickell area, with an expected cost of around $2.5 billion.

Griffin has also made large investments in Florida real estate for personal use. One planned project includes a home valued at $1 billion, which would be one of the most expensive private residences in the country. A rendering of the project shows a massive waterfront estate, reflecting Griffin’s belief in Florida’s future value.

“South Florida has something that the rest of the world wants,” Griffin said in the interview. “It has oceanfront property in a state with extraordinarily safe streets, great schools, strong sense of community, great cultural institutions. Miami is one of the most vibrant cities in the world.”