Chicago’s luxury condo market ended 2017 with a record-breaking sale. Hedge fund billionaire Ken Griffin bought the top four floors of the No. 9 Walton condo building in the Gold Coast for $58.5 million. Now, more multimillion condo deals are following.

Rendering courtesy of No. 9 Walton Place

No. 9 Walton Place continues to attract luxury buyers. Buyers paid $12 million for the 21st floor of the building, according to Crain’s Chicago Business. The floor is currently 10,000 square feet of unfinished space. Taking into account the cost of the purchase and finishing, the 21st floor could be a $22 million project once it reaches completion, according to the report. The buyers were not identified. 

No. 9 Walton is a 37-story building with 71 units. With two big sales already under its belt, it is possible more space in the building could sell for millions. The average sale price for the building’s units is expected to be $.5.5 million, according to Crain’s Chicago Business. 

In nearby River North, a penthouse at Trump International Hotel and Tower went under contract, according to Curbed Chicago. The 6,850-square-foot penthouse had a list price of $9.95 million, but the actual sale price has not been disclosed. The sale is expected to close in the spring. The penthouse had a sale price of $12.7 million in 2016.

The drop in sale price is no surprise. The average price of condos in the entire building dropped 12 percent compared to 2016, according to Crain’s Chicago Business. In 2016, the average price per square foot for a condo in Trump tower was $846. That number dropped to $747 in 2017. In comparison, prices for the overall downtown condo market rose 2.8 percent, according to the report.

Photo courtesy of Shutterstock

The downtown Chicago condo market could be poised for another big deal. Two condos on the 58th floor of Park Tower at 800 N. Michigan went up for sale, according to Crain’s Chicago Business. The two separate units are being listed together for a total of $11 million. The sellers are a couple who bought the units in the Magnificent Mile building in 2001 and 2015. The unit bought in 2001 cost $2.42 million, while the unit bought in 2015 cost $2.7 million, according to the report.

Last year was a strong year for Chicago’s luxury real estate market. Ken Griffin’s record-breaking buy closed last fall, according to Crain’s Chicago Business. Additionally, philanthropist Ann Lurie sold her Gold Coast mansion for $12 million in 2017. Of the 50 highest-priced sales for the year, the lowest-priced sale was $3.87 million, according to the report.

The sale of the Trump Tower penthouse is expected to close sometime this year. The year also started with two multimillion dollar sales — $10 million and $8.9 million — in Winnetka, Crain’s Chicago Business reports.