C
hicago's high-stakes real estate market has seen a surprising twist in its ongoing drama. Billionaire hedge-fund magnate Ken Griffin and Illinois Gov. JB Pritzker have been locked in a public feud for nearly a decade, but the mystery buyer of Griffin's 9 West Walton Street penthouse turned out to be none other than Pritzker himself. The sale has raised questions about how the deal was made, but it highlights a broader issue: high-end sellers are losing money and looking for someone to blame.
The Chicago real estate market is experiencing a downturn where even wealthy sellers like Griffin are struggling to recoup their investments. This trend suggests that the luxury property market may be more vulnerable than initially thought. As a result, some of Chicago's wealthiest residents are finding themselves in an unexpected predicament – losing money on their high-end properties.
realestate
Chicago's Wealthy Elite Suffering Big Losses in Real Estate Market.
Billionaire Ken Griffin's long-standing feud with Illinois Gov. JB Pritzker takes a surprising new turn.
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realestate
Brown & Riding Names New Real Estate Practice Head
Veteran leader with industry expertise and regional insight
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realestate
LA's affluent neighborhoods face gentrification threat from investors
Fires may exacerbate LA's affordability crisis, pricing out low-income residents and making the area exclusive to the wealthy.
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realestate
Maine's Housing Market Surprises with Resilience
Maine's Real Estate Market Begins to Balance After Years of Low Inventory and High Prices.