K
en Griffin, the Citadel chief, is finally severing his last ties to Chicago after three decades in the city. In 2022 he and his family relocated to Miami, taking the firm’s headquarters with them and abandoning the Windy City’s luxury homes. The final property on his Chicago list—a six‑bedroom duplex on the 67th floor of Park Tower—has gone under contract, according to Crain’s Chicago Business. The penthouse, which was recently relisted at a discount, was priced at $12.5 million.

    Griffin’s portfolio once included five high‑end penthouses on the Gold Coast, all of which he has either sold or listed. He purchased the Park Tower duplex in 2000 for $6.9 million and first listed it for $15.75 million after Citadel’s departure. It has since hovered on the market, finally reappearing at $12.5 million. The 9,250‑square‑foot unit boasts 12‑foot ceilings, a private elevator, three outdoor areas—including a custom Jacuzzi deck and a 400‑square‑foot rooftop terrace with a kitchen—and advanced security such as facial recognition and a “lockdown mode.” Griffin previously lost $3.8 million on a sale of the 66th‑floor unit in the same tower.

    Other Chicago holdings included a 37th‑floor apartment at the Waldorf Astoria and a four‑penthouse block on West Walton Street, which cost Griffin $58.5 million in 2017 and set a city record. Two of those units were sold in 2024 to Illinois Governor J.B. Pritzker for $19 million, while the remaining two unfinished units were purchased this spring at an $8.79 million discount, marking a 40 % loss on the original investment.

    Griffin’s criticisms of Chicago—high crime, steep taxes, and a perceived “woke” culture—prompted his move to Florida, where he has spent over $1 billion on real estate. His Florida holdings include the country’s most expensive residence at 220 Central Park South, a planned megayacht marina in Miami Beach exceeding 30,000 square feet, and a record‑setting $363 million purchase of a site on Miami’s Brickell Avenue for Citadel’s new headquarters. In 2022 he bought a 4‑acre estate in Coconut Grove for $106.9 million and, in 2023, spent roughly $169 million on seven properties on the exclusive Star Island.

    With a Forbes‑reported net worth of $50.5 billion, Griffin ranks 33rd among the world’s richest. His spokesperson, Zia Ahmed, cited Chicago’s weakening high‑end market as a consequence of “failed leadership in Illinois,” contrasting it with the appreciation of Griffin’s Florida assets, which he attributes to effective state and local governance.

    As Griffin completes the divestiture of his Chicago real estate, his focus shifts to expanding his Florida empire, where his billion‑dollar deals continue to heat up.