Oprah Taking Final Steps Out Of Chicago, Sells Harpo Studios For $32 Million
Oprah Winfrey and her Harpo Studios are synonymous with Chicago. But that’s changing. Winfrey’s company just sold its last commercial real estate, a four-building campus in the once-obscure Near West Side of the city, to Sterling Bay Companies for $32 million. Harpo will stay on for another two years through a lease contract. OWN is headquartered in Los Angeles.
Winfrey first moved into the neighborhood in 1988.
According to Crain’s Chicago Business, the lease agreement is shorter than the three years that the company had sought.
“Portions of the property could maintain their current use as TV studios and editing rooms. Besides Harpo, two digital sports networks backed by White Sox offshoot Silver Chalice Ventures—120 Sports and Campus Insiders—have office and studio space in the complex,” the magazine notes.
Sterling Bay is a prominent presence in the neighborhood, having closed the deal that brought Google, Gogo and Twitter, among other companies, to the neighborhood.
Oprah still has a 9,625-square-foot condo that is valued $7.75 million in Chicago.
[h/t Chicago Tribune]