Billionaire investor Ken Griffin, founder and CEO of Citadel, has officially closed out his presence in Chicago’s luxury real estate market. His final property in the city — a full-floor penthouse at 800 N. Michigan Avenue — has gone under contract, marking the end of a multiyear selloff that began when he announced Citadel’s relocation to Miami.
The penthouse, described as the “crown jewel” of Park Tower, is currently listed for $12.5 million on Zillow — roughly 20% below its July asking price of $15.75 million. Griffin’s spokesperson confirmed the property status to Bloomberg on Wednesday.
Griffin moved the global headquarters of both Citadel and Citadel Securities to Miami in 2022, citing concerns about public safety in Chicago and a more welcoming business environment in Florida. Speaking at an event hosted by the Economic Club of Miami, he praised the state’s leadership, saying:
“There’s something very special about the government in Florida and their focus on delivering traditional values for the community.”
Over the years, Griffin owned multiple high-end properties throughout Chicago, gradually unloading them after announcing the corporate transition south. His pivot to Florida includes a massive new office tower planned for Miami’s Brickell district — a project expected to cost around $2.5 billion, he revealed during a Citadel Securities conference in New York.
Griffin has been vocal about Miami’s growing global appeal, describing it as “one of the most vibrant cities in the world” thanks to its oceanfront access, strong sense of community, cultural institutions, high-performing schools, and reputation for safety.
Griffin’s move to Miami wasn’t just about taxes — it was about a pro-growth environment that blue states can’t match.
And he’s putting his money where his mouth is.
👉 Griffin recently contributed $12 million to protect Florida from dangerous marijuana expansion policies:
🔗 https://thefloridapundit.com/2024/08/03/hedge-fund-billionaire-donates-12-million-to-stop-florida-marijuana-legalization/
He also emphasized the exceptional performance of South Florida’s real estate market, noting that investors would be “hard-pressed” to find better returns elsewhere in the past seven years.
With this latest sale, Griffin’s shift from blue-state urban centers to Florida’s business-friendly climate appears firmly complete — mirroring the broader trend of companies and high-net-worth individuals heading to the Sunshine State.
