Oprah’s Big Real Estate Mistake!

Oprah’s Big Real Estate Mistake!

Oprah's Big Real Estate Mistake!

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Oprah is giving some lucky buyer an incredibly good deal! Since she is happily ensconced in her dreamy Montecito, CA acreage and is no longer filming from Chicago, one of her three impeccable residences there is for sale. Not only is it for sale, but it has been listed for just half the price that she paid in 2006. She changed her mind about living there after she bought it, opting to stay in her large duplex a few blocks away. Though currently furnished more for the rental market than with Oprah’s normal excellent taste, the building itself was designed by Benjamin Marshall in the Beaux Arts style and the mansion was built in 1913.

A luxury address on East Lakeshore Drive, the 6th floor unit offers beautiful views of the lake and beach. Designed for elegance and ease of entertaining, the 4.600sf home has a grand reception foyer, a second interior foyer, a butler’s pantry and a wine room. It also contains a richly paneled library, 3 bedrooms, 5 bathrooms, living room, formal dining, custom eat-in kitchen, solarium and laundry. The master suite is huge with his and her baths.

Oprah purchased the home in 2006 for $5.6m then put it on the market in 2008 for $6m. For a while it was offered as a rental for $15k per month. Today it’s listed for $2.8m. With increased springtime sales activity and home prices creeping upward, deals like this won’t be around for long. So now, if you can’t really live like Oprah . . and who can? . . maybe you can live in luxury by owning one of her well-chosen pieces of real estate.

Oprah’s Chicago Beaux Arts mansion co-op listed at 50% of purchase price. Now $2.8m.

Source: www.realtor.com