Hedge Fund Manager Sells Chicago Apt. For $15M

Nov 21 2012 | 10:37am ET

An Illinois hedge fund manager has earned a tidy 355% return on Chicago's richest condominium sale ever.

General Welfare Group's Richard Cooper has sold his penthouse in the Park Tower for $15 million. The hedge fund bought the then-unfinished space for just $3.3 million in 2000.

The 66th-floor apartment is nearly 8,000 square feet and has a 660-square-foot terrace, wraparound views and 16-foot ceilings.

The new owners also inherit Cooper's high-profile neighbor: Citadel Investment Group founder Kenneth Griffin and his wife, Aragon Global Management founder Anne Griffin, live one floor above the Cooper apartment, on the building's top floor.

The sale is the third-highest for any private residence in Chicago history.

In Depth

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel Supports Manhattan Real Estate With Record Deal

Sep 16 2015 | 3:04pm ET

Never count hedge funds out of a big property deal. The Manhattan real estate market...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note