Tags: oprah winfrey | harpo | studios | chicago

Oprah Winfrey's Harpo Studios in Chicago Sold, Then Leased Back

Image: Oprah Winfrey's Harpo Studios in Chicago Sold, Then Leased Back

By Alexandra Ward   |   Monday, 17 Mar 2014 11:21 AM

Oprah Winfrey has sold Harpo Studios' Chicago campus, but the media mogul's company will continue to operate out of the facility for the next two years.

It was confirmed Monday that developer Sterling Bay purchased the four-building Harpo Studios complex in the city's West Loop for about $32 million, Crain's Chicago Business reported.

Urgent: Do You Approve Or Disapprove of President Obama's Job Performance? Vote Now in Urgent Poll

"The property will be leased back to Harpo for two years and the studio will continue to produce programming for OWN," a Harpo spokesperson said in a statement.

Winfrey filmed her eponymous talk show on the Chicago campus from 1990 to 2011, at which time she decided to end the program in order to focus more on building her Oprah Winfrey Network.

The 3.5-acre campus employs about 200 people and the sale is expected to be final in 30 days, The Associated Press noted.

According to Chicago Business, Harpo Studios is credited with transforming the once-gritty urban neighborhood into an up-and-coming metropolitan center.

The sale is in line with Winfrey's latest attempt to downgrade her Chicago commercial real estate properties. She unloaded the retail condo that housed the Oprah Store in April 2013 and also put her four-unit duplex Water Tower Place condo on the market for $7.75 million in January, the Chicago Tribune reported.

Editor's Note: Do You Support Obamacare? Vote in Urgent National Poll

Related Stories:

© 2015 Newsmax. All rights reserved.

1Like our page

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved