Source: AP / theGrio
CHICAGO — Oprah Winfrey is selling Harpo Studios in Chicago to a developer, but the studio will remain on the property for another two years.
Winfrey filmed “The Oprah Winfrey Show” at the studio from 1990 to 2011, when she ended the talk show to start the Oprah Winfrey Network on cable.
“We have entered into a purchasing agreement with Sterling Bay for the four-building Harpo Studios campus in Chicago’s West Loop,” Harpo told Crain’s Chicago Business (http://bit.ly/1iRqccg ) in a statement. “We expect the transaction to be closed in 30 days. The property will be leased back to Harpo for two years and the studio will continue to produce programming for OWN.”
About 200 people work at the 3.5-acre campus, which will sell for about $32 million, Crain’s reported Sunday. Harpo said it expects to close the transaction in 30 days.
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