Oprah sells co-op she never lived in for half what she paid
BY FRANCINE KNOWLES Business Reporter/fknowles@suntimes.com July 18, 2012 4:16PM
Exterior of building at 199 E. Lake Shore Drive, photographed Wednesday, July 18, 2012, in Chicago | John J. Kim~Sun-Times
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Updated: August 20, 2012 11:51AM
For Oprah Winfrey, this was not a real estate deal made in heaven.
The television entertainment mogul closed last month on the sale of her Lake Shore Drive co-op unit for $2.75 million — half the $5.6 million she paid for the home in 2006, taking a loss on a property she never actually lived in.
The home at 199 E. Lake Shore Drive, featured 10-foot high ceilings, a library, solarium, terrace, gourmet custom eat-in kitchen, butler’s pantry, wine room and view of the lake.
The unit is one of 13 housed in a Beaux-Arts style building, constructed in 1913 and designed by Benjamin Marshall.
The late actor and comedian John Candy used to live in the building, and actress Meg Ryan once stayed there while filming in Chicago.
The building was a rental property until 1995, when real estate developer John Buck turned it into a co-op.
Winfrey initially had the home on the market from June 2008 to January 2009, when it was de-listed. It was put back on the market this year.
Curbed National reported last November that Winfrey had sought to rent out the home for $15,000 a month but received no takers.
