sat . WINDY CITY WALKOUT: Ken Griffin Wraps Up Chicago Exit as Final Citadel Condo Sells at a Discount
moved the hedge fund’s headquarters to Miami three years ago.
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WINDY CITY WALKOUT: Ken Griffin Wraps Up Chicago Exit as Final Citadel Condo Sells at a Discount
Chicago is losing one of its most powerful financial figures — and the symbols of that departure are now almost gone.
Ken Griffin, billionaire founder of hedge fund giant Citadel, is nearing the end of a dramatic multi-year retreat from the Windy City. The last remaining piece of his once-massive Chicago real-estate portfolio is now under contract, reportedly selling below its original price, marking a quiet but telling conclusion to a very public exit.
From Chicago Kingmaker to Miami Power Player
Three years ago, Griffin shocked the financial world by announcing Citadel would move its headquarters from Chicago to Miami. The reason was framed as strategic and cultural — but the message was unmistakable: Florida, not Illinois, was now the future.
Since then, Griffin has methodically sold off his high-end Chicago holdings, which once spanned multiple luxury condos and penthouses across the city. What was once an empire signaling dominance now looks like a cleanup operation.
The Final Sale — and at a Discount
The last condo, long seen as the holdout, is now under contract — and notably not at a premium. Sources familiar with the deal say the unit went for less than Griffin originally paid, a rare outcome in the luxury market and a symbolic one at that.
For observers, the discounted sale underscores more than market timing. It reflects a broader reality: elite capital is no longer betting on Chicago’s long-term trajectory the way it once did.
A Broader Trend, Not an Isolated Move
Griffin’s departure mirrors a larger migration pattern among wealthy executives, hedge funds, and corporations. High taxes, regulatory pressure, and public safety concerns have driven a steady flow of money and influence toward states like Florida and Texas.
Miami, in particular, has aggressively positioned itself as a global financial hub — welcoming firms like Citadel with open arms, tax incentives, and political stability.
What Chicago Loses
Griffin wasn’t just another billionaire resident. He was a major donor, employer, and behind-the-scenes power broker in Illinois politics and civic life. His exit removes not only investment dollars but also prestige and influence — the kind cities fight to keep.
While Chicago remains a major economic center, the loss of Citadel’s headquarters — followed by Griffin’s total real-estate withdrawal — sends a stark message to other boardrooms watching closely.
End of an Era
With the final condo nearly gone, Ken Griffin’s Chicago chapter is effectively closed.
No press conference.
No victory lap.
Just one last property sold — and a billionaire already fully settled 1,300 miles south.
For Chicago, the question now isn’t why Griffin left.
It’s who leaves next — and what it will take to stop the exodus.
