Key Takeaways
- • Charlie Mills, chairman and former CEO of Medline Industries, purchased Ken Griffin's 35th-floor Gold Coast condo at 9 W. Walton Street for $7.4 million in April 2025, representing a 40.8% discount from Griffin's original $12.5 million acquisition price in 2017.
- • Griffin sustained substantial losses on his Chicago real estate portfolio after announcing his 2022 relocation to Florida; he sold the four-floor penthouse package ($58.75 million purchase in 2017) for $34.9 million, crystallizing a loss exceeding $23 million or 40%.
- • Mills and his wife plan to invest an estimated $2.75 million in buildout costs for the raw space, as evidenced by a December 2025 Chicago building permit filed with architect Michael Waechter and contractor Wujcik Construction.
- • The 7,327-square-foot unit was originally listed by Griffin at $14 million in 2022 before being delisted in 2023 and eventually sold off-market through an opaque land trust structure in April 2025, obscuring the beneficiary identity until the permit filing revealed Mills as the current owner.
- • The transaction reflects broader repositioning of Griffin's Chicago real estate holdings, with Governor JB Pritzker acquiring the building's top two floors for $19 million in 2024, while a concurrent $8.5 million purchase of the 36th-floor unit remains undisclosed.
Summary
Charlie Mills, chairman and former CEO of the Northfield-based medical supply company Medline Industries, has emerged as the buyer of billionaire Ken Griffin's 35th-floor condominium at 9 W. Walton Street in Chicago's Gold Coast, acquiring the unit for $7.4 million in April 2025. The transaction, initially executed through an opaque land trust masking the beneficiary's identity, became publicly identifiable only through a December 2025 building permit filed with the City of Chicago. Mills and his wife intend to invest an additional $2.75 million in construction and materials to develop the raw 7,327-square-foot space into a finished residence.
The purchase price reflects significant depreciation in Griffin's Chicago real estate portfolio. Griffin originally acquired the unit for $12.5 million in 2017, meaning Mills purchased the property at a 40.8% discount. More broadly, Griffin's Gold Coast holdings have underperformed substantially since his 2022 announcement to relocate Citadel and his residence to Florida. Griffin paid $58.75 million in 2017 for the top four floors of the 9 W. Walton building and initially left them as raw space. He subsequently sold the four-floor package for a combined $34.9 million—a loss exceeding $23 million or approximately 40% of his original investment.
The 35th-floor unit's path to sale underscores the extended liquidation timeline. Griffin listed the unit at $14 million in 2022, delisted it in 2023, and ultimately completed the off-market sale in April 2025 at $7.4 million. Mills engaged architect Michael Waechter and contractor Wujcik Construction to execute the buildout, according to permit filings. In remarks to Elite Street, Mills characterized 9 W. Walton as "a very, very nice building" and stated that he and his wife hope "to build a very nice home there."
The transaction situates Mills alongside other prominent Chicago figures in the building's resident roster. Governor JB Pritzker purchased the top two floors from Griffin in 2024 for $19 million. A separate April 2025 purchase of the 36th-floor unit for $8.5 million remains undisclosed, with the buyer's identity not yet public.
The purchase price reflects significant depreciation in Griffin's Chicago real estate portfolio. Griffin originally acquired the unit for $12.5 million in 2017, meaning Mills purchased the property at a 40.8% discount. More broadly, Griffin's Gold Coast holdings have underperformed substantially since his 2022 announcement to relocate Citadel and his residence to Florida. Griffin paid $58.75 million in 2017 for the top four floors of the 9 W. Walton building and initially left them as raw space. He subsequently sold the four-floor package for a combined $34.9 million—a loss exceeding $23 million or approximately 40% of his original investment.
The 35th-floor unit's path to sale underscores the extended liquidation timeline. Griffin listed the unit at $14 million in 2022, delisted it in 2023, and ultimately completed the off-market sale in April 2025 at $7.4 million. Mills engaged architect Michael Waechter and contractor Wujcik Construction to execute the buildout, according to permit filings. In remarks to Elite Street, Mills characterized 9 W. Walton as "a very, very nice building" and stated that he and his wife hope "to build a very nice home there."
The transaction situates Mills alongside other prominent Chicago figures in the building's resident roster. Governor JB Pritzker purchased the top two floors from Griffin in 2024 for $19 million. A separate April 2025 purchase of the 36th-floor unit for $8.5 million remains undisclosed, with the buyer's identity not yet public.
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