Chicago Real Estate News & Neighborhood Notes - October, 2022

$20.6M St. Regis Condo Sold to Mexican Mining Billionaire

The most expensive residential sale in Chicago so far this year is tied to a Mexican mining billionaire. According to recent reports, German Larrea was the buyer of a more than $20 million condo on the 71st floor of Chicago’s St Regis Tower.  

Larrea is a part-time resident of Chicago, but he’s also the CEO of a mining company called Grupo Mexico. Not only does the sale mark the most expensive yet for 2022, but it also goes down as one of the most expensive home sales in Chicago history. 

It’s not the first time Larrea has purchased property in Chicago. In 2014, he reportedly used a limited liability company to purchase a $3.5 million condo on the 38th floor of the Ritz-Carlton Residences. 

A couple of years later, he did something similar with a…

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Ken Griffin’s Luxe Waldorf Astoria Condo Sells For Under-Asking

Billionaire Ken Griffin’s home in the Waldorf Astoria has sold, but for more than 10-percent below the original asking price. Griffin put the home, along with a number of other luxury condos he owns in Chicago, on the market in July.

The Waldorf Astoria condo sold for just over $10 million. He originally bought the home for more than $13 million in 2014, so he was already taking a loss when he listed it. 

The 7,400 square foot condo sits on the 37th floor of the building and has five-bedrooms. The buyer is not publicly identified. 

The recent sale means there are now three properties that still belong to Griffin on the market in Chicago. A condo on the 66th floor of Park Tower is a full-floor condo with 8,000 square feet of space. It is listed at…

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Changes & Restaurant Closings Mean New Era For Chicago's Famous Gold Coast 'Viagra Triangle'

Changes are coming to Chicago’s Viagra Triangle. That’s the area where Rush and State streets intersect, and until recently, it’s been known for its Italian restaurants and old-school steakhouses.

It’s also been known for something else, as the nickname wasn’t by chance. Once known to attract older men and younger women, the area now seems to be attracting more people in their 30s and 40s.

Some reports point to the pandemic as the catalyst for changing how people eat out in Chicago. Over the past couple of years, some restaurants have closed completely, including several steakhouses in the city.

That may be one of the things fueling change in Viagra Triangle. While popular Tavern on Rush has been operating for nearly 25-years, it’s set to close for good at…

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Another Luxury Driehaus Property Hits The Market in Chicago's Gold Coast

Another property tied to late philanthropist and businessman Richard Driehaus is on the market in Chicago. The latest offering is a brick mansion in the Gold Coast which was briefly featured in the film “Ferris Bueller’s Day Off”.

The brick mansion is priced just under six million. Originally constructed in the late 1800s, the home is commonly referred to as the Luther McConnell House, in tribute to its original owner. Driehaus purchased the more than 8,600 square foot home in the mid 1980s.

It’s said he completely renovated the home after buying it. It has two staircases and two living rooms. It also comes with an elevator and a glass conservatory on its top level, which opens to a large rooftop deck.

The home features several grand chandeliers,…

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