World’s Mega-Rich Are Betting on US Renters to Grow Their Billions
- Ortega, Ofer have bought US apartment properties recently
- Falling prices and rent growth have lured richest buyers
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Chicago’s 727 West Madison tower — a luxury residential building with poolside cabanas and a yoga studio — sports a new owner these days: the billionaire founder of the Zara clothing chain.
Amancio Ortega snapped up the building in Chicago’s West Loop neighborhood last month for $232 million, joining a growing number of the super-wealthy betting on US renters.