Another Patrick Kane condo play ends in a loss

Patrick Kane may have left Chicago hockey fans divided when he swapped his Blackhawks sweater for a Detroit Red Wings jersey, but now he’s officially left another piece of the city behind, his Gold Coast condo at 9 W. Walton.

The four-bedroom, 4,776-square-foot unit on the 25th floor closed in late June for $6.4 million in an off-market deal. That’s about a 1 percent loss from the $6.46 million Kane paid in 2019. Considering the way real estate values at this once star-studded tower have been sliding, Kane might almost consider himself lucky. The condo was tucked neatly into a land trust, of course, the standard way athletes and billionaires quietly come and go without their names splashed across county records.

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Coldwell Banker agent Chezi Rafaeli represented the anonymous buyer’s trust, while Jameson Sotheby’s Nancy Tassone handled Kane’s side.

If this sounds familiar, it should. Earlier this year, Kane also took a bruising on his Trump Tower unit, selling it for $2.1 million after paying $3.1 million back in 2016. That’s roughly a million-dollar loss, which makes the 9 W. Walton haircut look like a mere trim. Kane still has a suburban anchor, though: a $5 million Greek Revival mansion in Lake Forest that he bought in 2022, right before his trade to the New York Rangers.

As for 9 W. Walton itself? The building once attracted Chicago’s sporting elite like moths to a flame. Now it seems more like a revolving door. Former Blackhawks captain Jonathan Toews sold his condo there in 2019 for nearly $7 million. Cubs outfielder Jason Heyward cashed out in 2020 for $7.2 million. Bears linebacker Khalil Mack left in 2022 for $6.9 million, with Bulls guard Zach LaVine stepping in as buyer. LaVine already has it back on the market for the same price. Even billionaire Ken Griffin packed up his penthouse playground, “piecing out” the top four floors and rooftop pool (listing them as separate units) to JB Pritzker and familyand a series of land trusts.

So while Kane is now skating with the Red Wings, his real estate plays look a lot more like penalty kills than power plays. Chicago’s most talked-about condo tower is losing its sports stars one by one, and Kane is simply the latest to check out of the Gold Coast.