Ultra-Wealthy Are Souring on Chicago’s Most Elite Neighborhood

March 20, 2024

(Bloomberg) -- When Ken Griffin left Chicago, the billionaire listed several of his high-end properties in the Gold Coast, the city’s most exclusive neighborhood. The family of billionaire Richard Driehaus, who died in 2021, also offloaded at least one of his Gold Coast homes for less than he paid. Only Streeterville, directly south of the Gold Coast and along the famous Michigan Avenue shopping strip, has more. To be sure, there are still major real estate transactions happening in the neighborhood. His firm’s project at 1508 N. State Parkway will bring four luxury condos to the Gold Coast in a former single-family mansion.