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

Delayed Flash Crash Arrest Highlights Difficulties Detecting Fraud

Apr 23 2015 | 7:19am ET

The five years it took regulators to bring high-profile charges against a UK trader...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Opportunities Ahead: Asian Fixed Income and Currency Markets

Apr 24 2015 | 6:18am ET

For hedge funds focusing on Asia, the policy uncertainty, unclear interest rate...

 

Editor's Note