A source close to the situation explained:
Add that to the bank account!
Oprah Winfrey is about to leave Chicago behind, along with her Harpo Studios lot.
There were lots of bids for the 3.5 acre Near West Side space, but Sterling Bay Co. beat them all with their $32 million offer.
Oprah’s show was moved there in 1990, but now she’s almost entirely based elsewhere, so she’s selling her $7.75 million Water Tower Place condo too!
“We have entered into a purchasing agreement with Sterling Bay for the four-building Harpo Studios campus in Chicago's West Loop. We expect the transaction to be closed in 30 days. The property will be leased back to Harpo for two years and the studio will continue to produce programming for OWN.”
At least that gives the over 200 employees who work there some job security for the time being.
It’s sad to see Oprah closing this chapter in her life, no?