The most expensive home sale in the Chicago area EVER just went through

Remember last year when the most expensive home sold in Chicago went for $7.2 million? Well, now it’s time to recalibrate what we think of when we hear the word expensive.

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Ken Griffin, the hedge-fund billionaire who founded the financial institution Citadel, just bought for stories of a Gold Coast apartment building for $58.5 million.

Fifty. Eight. Point. Five. Million.

And that’s not even all. According to Crain’s Chicago, the floors serve only as raw space that need finishing. With an estimate of $1,000 per square foot, the whole transaction could cost $80 million when all said and done.

This number far exceeds the other highest sold properties in the area. In 2014, an executive with Sam Zell’s Equity Group sold a four-acre lakefront property in Glencoe for $19.5 million. A condo in 2015 sold to someone associated to filmmaker George Lucas for $18.75 million.

In addition to the Walton property, Griffin has condo at the nearby Waldorf Astoria worth about $13 million, one floor of the Park Tower penthouse, and homes in Colorado and Hawaii.

In case it needs to be said, yes, Ken Griffin is the richest person in Illinois with a worth of about $8.7 billion.

To be fair, Griffin has a large body of philanthropic work as Crain’s points out. He has donated $125 million to the University of Chicago’s economics department, $150 million to Harvard University, as well as contributions to cultural institutions like Museum of Contemporary Art and the Art Institute of Chicago.

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The building at 9 W. Walton has been under construction the past few years with various scale backs on height dependent on city approval. Residential occupancy is expected in April of this year.

What do you think?

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