Ken Griffin’s long retreat from Chicago’s luxury real estate market is ending with one final deal, closing a chapter that began when Citadel shifted its headquarters to Miami more than two years ago.
According to FOX Business, the billionaire’s spokesperson confirmed to Bloomberg that Griffin’s last remaining property in the city — a full-floor penthouse at 800 N. Michigan Avenue — is now under contract.
The unit, prominently featured atop Park Tower, was listed for $12.5 million.
That price reflected a significant cut from its original July listing of $15.75 million, signaling Griffin’s intent to fully exit the market after years of owning some of Chicago’s most coveted addresses.
His move away from the city accelerated in June 2022, when Citadel and Citadel Securities officially relocated their global headquarters to Miami.
“There’s something very special about the government in Florida and their focus on delivering traditional values for the community,” Griffin said months later at an Economic Club of Miami event.
Since the relocation, Griffin has sold off nearly all of his Chicago holdings. Bloomberg reported that the billionaire once controlled a substantial collection of high-end properties across the city, but one by one they were listed and unloaded as Citadel deepened its presence in South Florida.
That shift has come with big plans.
Griffin revealed in October, during a Citadel Securities conference in New York, that the firm’s new office tower in Miami’s Brickell district will likely carry a staggering price tag of around $2.5 billion.
His enthusiasm for the region has been clear.
“South Florida has something that the rest of the world wants,” Griffin said. “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.”
He added that real estate performance in the region has been difficult to match.
“With respect to a real estate portfolio, you’d be hard-pressed to beat the returns of real estate in South Florida over the last seven years.”
With his final Chicago listing headed for sale, Griffin’s pivot toward Miami’s booming market now appears complete.
