Zara Billionaire Ortega Buys Chicago Apartment Tower for $232 Million

Inditex founder Ortega acquires 727 West Madison building
Spain’s richest man continues to snap up US property assets

An entrance to the 727 West Madison  luxury apartment building in Chicago. — An entrance to the 727 West Madison luxury apartment building in Chicago.
Source: Google Maps

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By Macarena Munoz Montijano

August 22, 2023 at 9:53 AM UTC

Updated on

August 22, 2023 at 2:17 PM UTC

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Amancio Ortega, the billionaire founder of the Zara clothing chain, snapped up a luxury apartment building in Chicago for $232 million, expanding his US property portfolio.

Ortega’s family office Pontegadea acquired 727 West Madison from a joint venture of Ares Management and F&F Realty, according to a company spokesperson.