$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 full-floor condo in the residential portion of the Waldorf Astoria Hotel. That 52nd floor condo sold for more than $11 million. As for Larrea, he reportedly has a net worth topping $21 billion. 

It’s not the only recent high-priced residential sale in Chicago. Earlier this month, a couple paid $20 million for a more than 14,000 square foot condo in Trump Tower. 

While both recent sales were high, they were still less than the price of two package deals. A few years ago, billionaire Ken Griffin spent more than $58 million to purchase four condos at 9 West Walton in four separate transactions. Another buyer spent nearly $40 million to purchase four separate properties in Winnetka on Lake Michigan.