00:04Billionaire Ken Griffin is completing his departure from Chicago as he prepares to sell his final property in the city.
00:10The Citadel CEO, who moved his company headquarters to Miami in 2022, has placed his luxury penthouse at 800 North Michigan Avenue under contract, according to a spokesperson who spoke with Bloomberg.
00:22Griffin bought the full-floor Park Tower penthouse for $6.9 million in 2000.
00:27Once considered the building's crown jewel, the property spent months on the market before Griffin reduced the asking price by $3.25 million.
00:36The current sale price is estimated at around $12.5 million, though final details have not been confirmed.
00:43The sale marks the final step in Griffin's multi-year withdrawal from Chicago, where he once owned several properties.
00:50Many of these sales, including this one, came at lower-than-expected values.
00:54Griffin, whose net worth is about $48 billion, has been vocal about his reasons for leaving, citing concerns over public safety, schools, and city governance.
01:05He told Bloomberg that after more than 30 years of investing in Chicago, he saw the city fall into anarchy under poor governance.
01:12Citadel's former headquarters at 131 South Dearborn is now the company's only remaining presence in Chicago.
01:18Most operations have moved to Miami, where Griffin is planning a major expansion, including a new brickle tower expected to cost around $2.5 billion.
01:28Griffin has also invested heavily in Florida real estate for personal use.
01:33One planned home, valued at $1 billion, would be among the most expensive private residences in the country.
01:39He praised South Florida for its safety, schools, community, and culture, calling Miami one of the world's most vibrant cities.
01:48Griffin believes Miami is on track to become a global financial capital, suggesting New York could one day be seen as Brickle Bay North.
01:56His move reflects a broader trend of companies and wealthy individuals relocating from high-tax, Democrat-led cities to states like Florida and Texas.
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