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Oprah Winfrey's Harpo Selling Part of West Side Studio Property

October 04, 2013 09:31:16 GMT

The media mogul's studio hired a real estate firm to market a portion of its 4-building West Side campus.


Oprah Winfrey
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Photo credit: Adriana M. Barraza/WENN

Oprah Winfrey used to broadcast her self-titled syndicated talk show at her Harpo Inc.'s West Side studio complex at 1058 W. Washington, but now a part of that property will either be sold, refinanced or leased back. Harpo has hired real estate company Eastdil Securedd LLC to market a portion of its 4-building campus and other assets.

After "The Oprah Winfrey Show" ended in 2011 and stopped taping in the facilities, the talk show host maintained it for the production and post-production work for her OWN cable network. According to a source, any sale or leaseback contract that will be entered into will not affect such operations within the studios.

It is said that when Winfrey moved into the area in 1989, the surrounding area benefitted from it, producing somewhat of a business renaissance on the near West Side especially improving the real estate values of the land within the area. The neighborhood now thrives with other establishments as restaurants, office spaces, hotels and even a Google Inc. office within the vicinity.

For Winfrey's part, she will likewise gain from the booming real estate market, with the possible sale of some part of the 88,000-square-foot complex plus the streamlining of the existing operations into a couple less structures. There's also word that the beloved Hollywood celebrity is planning to let go of her Chicago mansion to move into a smaller home.

© AceShowbiz.com




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