The decline and fall of Chicago has been ongoing for a number of years. The exodus from the city of financial powerhouse Citadel was announced back in 2022. Their founder and CEO was interviewed just last week on the move. Fox Business reports,
Billionaire Ken Griffin said his hedge fund’s Chicago footprint will shrink to just two floors as crime, taxes and other challenges push employees to relocate to Miami and New York.
“Chicago, you know, over the last, unfortunately, over the last six or seven years, has been engulfed in a series of problems,” Griffin said at the Citadel Securities Future of Global Markets conference in New York on Oct. 6.
The reference above to “just two floors” involves the sale of Citadel’s signature building in the Windy City. It was reported last month that the tower was up for sale,
The Chicago tower that once served as headquarters of Citadel has been put up for sale by its owners, three years after Ken Griffin moved his financial conglomerate to Miami.
Citadel Center, the 37-story building named after the company at 131 S. Dearborn St., is now on the market.
Griffin founded the company in Chicago in 1990, building it up from nothing to now managing $65 billion in assets.
More from Griffin as quoted in Fox Business,
Asking people to leave Chicago for New York or Miami has not been hard. We’ve gone from probably 1,300 people in Chicago to a few hundred. From being the primary tenant of one of the largest skyscrapers to, I think we will be down to two floors in a year.
Miami I can understand, but New York? That’s got to hurt.
