Dalian Wanda Group, the Chinese former development partner of the St. Regis Chicago skyscraper, is selling the last portion of its ownership, a portfolio of 37 condominium units.
The corporate conglomerate listed the bulk offering with Newmark, the second time a portfolio has been offered for the city’s third-tallest building since completion in 2020, according to a marketing brochure.
Wanda partnered with Chicago-based Magellan Development Group in 2016 for the 101-story project designed by Jeanne Gang.
A person familiar with the situation said the Wanda units were not previously marketed or listed to sell individually.
Wanda’s listing includes five one-bedroom units, five two-bedroom units, 18 three-bedroom units, five four-bedroom units, and four penthouse units with an average square footage of 2,952. The residential and hotel building was originally planned to be Wanda’s first U.S. hotel, Wanda Vista Tower.
Billionaire Wang Jianlin, head of Wanda, invested in the project in 2016 for the hotel, but the conglomerate sold its 90% interest to Magellan in 2020 for $270 million amid regulation changes on overseas investments from the Chinese government.
GD Holdings and Miami-based Gencom purchased the 192-room hotel on the building's first 11 floors in 2023. Both investors have ownership in other hotels, such as The Ritz-Carltons in Fort Lauderdale, Miami, New Orleans, Colorado, and Costa Rica.
The hotel, operated by Marriott International's St. Regis Hotels & Resorts, opened in May 2023, and residents moved in in 2020. This portfolio sale would mean a full exit for Wanda.
The previous bulk sale of 84 residential units in November went to Denver-based investor GD Holdings for $117 million, according to property records, about $3.16 million per unit. Pricing for the 37 for-sale units was not confirmed.
Newmark declined to comment to CoStar News. Wanda did not immediately respond to a request for comment.
St. Regis condo sales faced a slowdown during the pandemic as buyers exited downtown Chicago. It’s unclear how many units have sold out of 393 total.
There are 19 units for sale, ranging from $949,050 for a one-bedroom on the 14th floor to $7.99 million on the 75th floor, according to Homes.com, the residential data website owned by CoStar Group, the publisher of CoStar News. Seven units have sold in 2025 so far.