Mexican Billionaire Lists 38th-Floor Condo at Ritz Carlton Residences

Posted by Leo Clark. on Saturday, February 23rd, 2019 at 10:34am.

A high-profile billionaire has listed his condo at the Ritz Carlton Residences, according to reports from multiple outlets.

Germán Larrea Mota-Velasco, the majority owner of mining company Grupo Mexico, originally purchased the 3,500 square foot condominium back in 2015 for $3.6 million and is now looking to unload the 38th floor unit at a cool $8 million.

The asking price isn’t unrealistic as the Chicago-area luxury market had a strong start to 2018 before taking a serious nose dive in the fourth quarter.

Back in June of last year, a bare, 6,000 square foot penthouse condo at the Ritz Carlton Residences traded for $8 million, and 2018 as a whole saw a record number of home sales priced at $4 million and over.

Leave a Comment