B
illionaire Ken Griffin is pushing to sell his remaining condos in downtown Chicago, including a 36th-floor unit at No. 9 Walton that he relisted this week for $8.5 million. This comes after he sold two unfinished units on the 37th and 38th floors of the building for a combined $19 million, a loss of $15 million but still the most-expensive residential transaction in Chicago this year.

    Griffin purchased the four floors in the building - including the 36th floor unit - for over $58 million in 2017. However, after moving his company's headquarters to Miami in 2020 and experiencing a spike in crime in the downtown area, Griffin put many of his Chicago properties up for sale. His condos have been selling quickly, but at a loss.

    According to Nancy Tassone of @properties Christie's International Real Estate, who is handling Griffin's 36th floor listing, "anytime you lower prices to a place that seems more palatable, units will transact." However, she notes that there also needs to be a shift in desirability to live and be in Chicago, which has been impacted by the pandemic. The unit was previously listed for $12 million last June but is now priced at $8.5 million after a $3.5 million reduction.

    The 36th floor condo has an identical floor plan with the same outdoor space as the recently sold 37th floor unit, which went for $9 million. Griffin bought the four unfinished floors at No. 9 Walton with plans to build them out but never got around to it and instead kept his Waldorf Astoria condo as a primary Chicago residence until selling it in 2022.

    Griffin has invested heavily in South Florida real estate since leaving Chicago, pouring over $1 billion into various properties including the 1221 Brickell tower in Miami.