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Gold Coast penthouse sells to billionaire Ken Griffin for a record-shattering $58.75M

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The raw, four-level space is officially Chicago’s priciest home sale ever

The unfinished penthouse space occupies the top four floors of the Gold Coast’s No. 9 Walton condo tower.
Jay Koziarz

Illinois’ richest person, billionaire Ken Griffin, now holds the special distinction of paying the highest dollar amount ever for a Chicago home. The 49-year-old Citadel hedge fund founder shelled out $58.75 million in November for a four-level penthouse atop the Gold Coast’s No. 9 Walton apartment tower, reported Crain’s on Wednesday.

Occupying floors 35 through 38, Mr. Griffin’s new pad reportedly exceeds 25,000 square feet and features soaring extra-high ceilings. No. 9 Walton’s developer JDL was even granted an amended building permit in August to grow the penthouse by 7,000 square feet and add a private pool. It’s understood that the change was made per Griffin’s request.

If the $58.75 million price tag wasn’t already extraordinary, the four-story residence was sold as a raw, unfinished space. The process of building-out and furnishing the penthouse will undoubtedly push the final figure even higher still.

A rendering of No. 9 Walton’s lobby space.
JDL Development

November’s transaction absolutely obliterates the existing Chicago-area home sale record. That honor previously went to Groupon co-founder Eric Lefkofsky’s $19.5 million purchase of a 15,800-square-foot lakefront estate in suburban Glencoe, Illinois in 2014.

Despite setting a local record, the Gold Coast penthouse isn’t Ken Griffin’s most expensive condominium holding. In 2015, he paid a whopping $200 million for a three-story complex in Manhattan’s under-construction 220 Central Park South skyscraper.

Just across the street from No 9 Walton, Griffin paid $13.3 million for a full-floor condo in Chicago’s Waldorf Astoria in 2014. He also owned a second Waldorf unit occupying the entire 46th floor which he sold in 2016 for a reported $16 million.