D
alian Wanda Group, the Chinese conglomerate behind the St. Regis Chicago tower, has put its remaining 37 condominium units up for sale in a bulk offering. This marks Wanda's exit from the Jeanne Gang-designed skyscraper at 363 East Wacker Drive. The portfolio includes a mix of one to four-bedroom units and penthouses, with an average size of nearly 3,000 square feet. Pricing has not been disclosed.

    The St. Regis Chicago's development saga is nearing its end. Wanda originally invested in the project alongside Magellan Development Group in 2016, but sold its stake to Magellan for $270 million in 2020 due to tightened Chinese regulations on overseas investment. This latest sale follows a bulk deal last November, where GD Holdings bought 84 units for $117 million.

    The St. Regis tower has seen a surge of deals this year, including one of the priciest sales, with two 52nd floor units selling for just under $9 million last month. With Wanda's departure, the tower is now firmly under domestic ownership. The bulk sale could test market appetite at the top end, as high-rise luxury living in downtown Chicago has yet to fully recover from the pandemic.