C
hicago's luxury property market is experiencing a significant downturn. The departure of high-net-worth individuals like billionaire financier Ken Griffin has led to a glut of high-end condos and penthouses, with prices plummeting by millions of dollars. Griffin's own $145.4 million portfolio, once the epitome of Chicago's wealth and status, now represents a symbol of the city's struggles. With crime on the rise and businesses fleeing, Chicago is facing an exodus of its wealthy elite, leaving behind a trail of undervalued properties that are attracting bargain hunters.
realestate
Chicago's Luxury Mansion Market Slumps, Hurting High-Profile Owners
Discounted sales indicate broader decline of city due to business exodus and rising crime rates.
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realestate
Nuveen Real Estate Names Chad W. Phillips Global Head
Nuveen Appoints Chad W. Phillips as Global Head of Nuveen Real Estate
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realestate
Florida's Property Tax Abolition: Real Estate Market Implications
Florida lawmakers consider eliminating property taxes, but would need a constitutional amendment.
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realestate
Taunus Trust Sees Real Estate Potential, Questions Infrastructure Investments
Taunus Trust advises clients to diversify into real estate in 2025.