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Oprah Winfrey in Multi Million Dollar Property Loss

Oprah Winfrey in Multi Million Dollar Property Loss

Oprah Winfrey in Multi Million Dollar Property Loss

By: Nick Marr -  Category: United States - Added: 2012-07-26


Talk-show legend Oprah Winfrey has sold her Chicago apartment for $2.75 million (£1.75 million), under half the price she bought it for in 2006.

The star sold the apartment for $50,000 less than the asking price, although she has never lived at the property.  Keep reading to learn more about Oprah’s $2.85 million property loss.

Winfrey makes £1.8 million loss on luxury Chicago apartment


The television presented purchased the luxurious property in the city's upscale Streeterville neighbourhood for $5.6million (£3.57 million) in 2006.  She first attempted to sell for $6 million (£3.82 million) in 2008, though it failed to attract a buyer.

Winfrey was forced to reduce the asking price by $2.8million in May 2012 and the sale was finalised in July, according to the Chicago Tribune.  The talk-show host lost around £1.8 million on the property.

The apartment is one of 13 units in a 1913 Beaux Arts-style building designed by architect Benjamin Marshall.  It boasts its own library, a formal dining room, a butler's pantry, a wine room, a 24/7 doorman, private storage space, and even a solarium.

Despite the luxuriance of the property, Winfrey never lived in it herself.  The Daily Mail reports that ‘it is believed that she felt this property was too overlooked and had concerns about privacy.’  The Tribune reports that she uses a nearby duplex condominium as her main Chicago residence instead.

The star also owns a number of other homes.  She 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.

However, the 58 year old spends most of her time at her estate in Montecito, California.  The property, nicknamed 'The Promised Land', was purchased in 2001 for a reported $52million.


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