H
igh-end Chicago real estate is feeling the pinch, even among billionaires. Pat Ryan and his wife Shirley have sold their 62nd-floor Four Seasons Hotel Chicago condo for $1.3 million, a significant loss from the $1.9 million they paid in 1989. The sale represents a 32% decline in value, with the price per square foot dropping to $475 from $695.

    The 2,700-square-foot unit features three bedrooms, three bathrooms, and a stunning view of Lake Michigan. This sale is not an isolated incident; other high-end properties have also depreciated in value. For example, billionaire Ken Griffin recently sold two unfinished condo floors at No. 9 Walton for a $15 million loss.

    The Ryans still own the adjacent unit, which they purchased in 2018 for $4.4 million and are listing for $2.3 million. They also have other significant real estate holdings, including a mansion in Winnetka and a lakefront estate in Lake Geneva, Wisconsin. Pat Ryan is a prominent figure in the insurance industry and at Northwestern University, where he supports various charitable causes, including the Shirley Ryan AbilityLab.