Oprah sells her Streeterville home making this the latest Chi-town real estate steal
The Chicago Tribune reported that media giant Oprah Winfrey has sold her co-op in Chicago's upscale Streeterville neighborhood. Interestingly, Oprah never lived in the 4,607-square-foot, three-bedroom unit on the sixth floor of the building. After originally purchasing the co-op in 2006 for $5.6 million, Oprah changed her mind and decided to live a few blocks down the street in a duplex.
Oprah's unit in the Beaux Arts-style building constructed in 1913 sold for $2.75 million. The unit had been on and off the market for years before it finally sold, putting Oprah at an almost 50 percent loss over the original purchase price. While it's possible this sum seems like nickels and dimes to the billionaire talk-show legend, it does provide further evidence of bargain buys that are currently peppered throughout real estate in Chicago.
Streeterville is home to the dining and entertainment complex Navy Pier as well as the famous John Hancock Observatory, where visitors can peer out over the city of Chicago or the shores of Lake Michigan from the 95th floor. The area is made up of luxury apartments in skyscrapers, and is home to the world-famous Magnificent Mile shopping district that stretches along Michigan Avenue. Those looking for homes for sale in Chicago, IL, can look to Streeterville as one of the most elite areas in the city, offering numerous high-end restaurants, shopping and luxury living.