Oprah Winfrey in Multi Million Dollar Property Loss

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.

Author Nick
Marr