Oprah Winfrey sells Chicago apartment at a loss for $2.75million – under the asking price and HALF the figure she paid six years ago
06:51 GMT, 19 July 2012
Selling at a loss: Oprah Winfrey's Chicago co-op finally sold yesterday for $2.75m, under the asking price and half the figure she paid in 2006
Oprah Winfrey has sold her Chicago apartment at a loss for $2.75million, $50,000 shy of the $2.8million asking price, and half the figure she paid for it six year ago.
The television mogul purchased the
luxurious co-op, in the city's upscale Streeterville neighbourhood, for
$5.6million in 2006, and first attempted to sell for $6million in 2008,
though it failed to attract a buyer.
But, demonstrating just how much the
local property market is suffering, she was forced to reduce the asking
price by $2.8million in May.
The sale was finalised yesterday, according to the Chicago Tribune, and puts an end to Ms Winfrey's unfortunate property saga.
However drastic the discount, the apartment, which was listed with Prudential Rubloff Properties, certainly lives up to its six-figure price tag.
One of 13 units in a 1913 Beaux Arts-style building designed by architect Benjamin Marshall, it has eight rooms with 10ft ceilings over 4,607sq ft.
It boasts its own library, a formal dining room, a butler's pantry, a wine room and even a solarium.
Opulent: The property, in the upscale Streeterville neighbourhood, has eight rooms over a vast 4,607sq ft
Fine dining: The eat-in kitchen is decorated in a traditional style with marble worktops and a range cooker
In addition to a vast 1,241sq ft master bedroom with an equally large en-suite bathroom, there are two guest bedrooms.
But if the buyer was impressed by the celebrity cachet, they might be disappointed to learn that Ms Winfrey never lived in the apartment.
It is believed that she felt this property was too overlooked and had concerns about privacy.
Sweet dreams: In addition to a vast 1,241sq ft master bedroom, there are two guest rooms as well
Bathing beauty: The master bathroom is bigger than the average person's bedroom
Room with a view: The apartment is one of 13 in a 1913 Beaux Arts-style building by Benjamin Marshall
Ms Winfrey was based in Chicago until this time last year, when her long-running talk show, filmed in the city, ended, and has two other properties in the area.
The Tribune reports that she uses a nearby duplex condo as her main Chicago residence instead.
She spends most of her time, however, at her estate in Montecito, California, nicknamed 'The Promised Land', which she purchased in 2001 for a reported $52million.
Outside space: There is also a terrace, though it is believed the star chose not to live in the apartment because it was too overlooked and she was concerned about privacy
Disappointment: If the buyer was impressed by the celebrity cachet, they might be disappointed to learn that Ms Winfrey never lived in the apartment
The star also has a farmhouse in
Kula, Hawaii, a holiday home in Antigua, a property by the shore in
Lavallette, New Jersey, a ski chalet in Telluride, Colorado, and a home
in Douglasville, Georgia.
Naturally, she has a $42million private jet to travel between them too.