T
ech entrepreneur Michael Krasny has relisted his 50th-floor Gold Coast condo with a significant price reduction. The three-bedroom residence, located at 800 North Michigan Avenue's Park Tower, is now priced at $3.4 million, or $809 per square foot. This represents a 22% loss from the original purchase price of $4.35 million in 2017.

    The 4,200-square-foot condo features an open floor plan, high-end kitchen appliances, and walnut hardwood floors. It also boasts two private terraces and includes two garage parking spaces. Monthly homeowners association fees are $3,796, while last year's property tax bill totaled $62,751.

    Krasny's listing comes after he recently purchased a four-bedroom condo in Lincoln Park for $5.1 million. This acquisition signals his ongoing interest in Chicago's high-end real estate market and suggests he is fine-tuning his local portfolio. Krasny has maintained a notable presence in Chicago real estate, owning properties in the Gold Coast, Lincoln Park, and Highland Park.

    In contrast to Krasny's strategy, fellow billionaire Ken Griffin has been divesting from Chicago's luxury market, recently listing his 37th-floor penthouse for $9 million at a potential loss of $3.7 million.