*Oprah Winfrey‘s Harpo Studios in Chicago is considering selling off its West Side studio campus and has hired real estate firm Eastdil Secured LLC to market the property, according to Harpo spokewoman Nicole Nichols.
Sources say the studio will either sell, refinance or lease back a portion of its four-building campus and the Harpo assets.
Operation of Oprah’s cable network OWN should remain at the facility regardless of any changes or sales. Up until the close of her talk show, the host used the building for the taping of “The Oprah Winfrey Show.”
The real estate market has improved since Oprah moved into the building back in 1989 which should aid her ability to sell.
According to the principal at the residential development firm Fifield Cos., Alan Schachtman, Oprah must make a decision on whether she want to sell to interest buyers or for a higher bid from investors who would like to build housing.
“To me, it has a lot of value as a teardown, but I’m not sure that’s the way she’s thinking about it,” Schachtman told the Chicago Sun-Times.
A source said the property will be actively marketed starting in a couple of weeks.