After nearly two years on the market, Oprah Winfrey's massive 9,600-square-foot condo along the Magnificent Mile has finally found a new owner. According to Crain's, the Water Tower Place condo sold on November 13 for $4.65 million—about 40% below the original asking price of $7.75 million. The large condo located on the building's 56th and 57th floors grew over the years as Oprah acquired and then combined four separate units throughout the mid-'80s through early-'90s. It's no shocked that Oprah has ditched this particular property, as the media mogul has been cutting ties with her Chicago properties over the last few years.
Oprah made waves in 2011 when she moved her studio operations out to the Los Angeles area. Last year, Oprah sold the former Harpo Studios campus in the West Loop to developer Sterling Bay for $32 million. At its peak, 580 people worked at the West Loop Harpo Studios campus. Only a couple of Chicago area properties remain in Oprah's portfolio. According to the Tribune, Oprah is still hanging onto a house in suburban Elmwood Park and a house located over state lines in Merrillville, Indiana.
·Oprah unloads Water Tower condo for 40% less than asking price [Crain's]
·Oprah Winfrey sells Water Tower condo for $4.6 million [Tribune]
·Oprah is Selling the Stuff From Her Water Tower Place Condo [Curbed Chicago]