According to media reports Pontegadea, Ortega’s family office, bought the 45-story 727 West Madison property. Multiple publications reported that the sale was listed in Cook County property records earlier this month.
The building has 492 studio, one-, two- and three-bedroom apartments ranging from 490 to 1,550 square feet. The property, just shy of 500 feet tall, has a sky lounge, media theatre, coffee bar, coworking space, and conference rooms. There’s a fitness center, yoga studio, outdoor pool and spa, dog park, and even a pet spa.
On the ground floor, there’s also a pilates studio, an AT&T Store, and a Chase Bank location. Prices start at $2,166 a month for a studio, rising to $6,083 for the most expensive apartment available, a three-bed. The prices for penthouse apartments aren’t listed.
Ortega is the world’s 14th richest person, with an estimated net worth of around $75.2 billion, according to the Bloomberg Billionaires Index. That makes him richer than Charles Koch, Michael Dell, and the individual members of the Walton family, the descendants of Walmart’s founders.
Ortega also owns other properties through Pontegadea which include Meta’s Seattle headquarters, the Haughwout Building in Manhattan, several other buildings in Chicago, and the Royal Bank Plaza in Toronto, which he bought last year for $916 million. The real-estate investment firm also has stakes in infrastructure companies, according to Bloomberg.
Inditex had nearly 6,000 stores internationally as of late January. It recorded 32.6 billion euros, or about $352 billion, in the year to January 31.
Amancio Ortega bought a $232 million 45-story luxury Chicago apartment tower
