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Oprah Winfrey to sell Chicago-based Harpo Studios for expected $32 million

The place where Oprah Winfrey filmed “The Oprah Winfrey Show” from 1990 to 2011 is being sold. According to a report by the Associated Press on March 16, Oprah is selling Harpo Studios in Chicago to a developer.

Oprah Winfrey (L) and executive producer Maria Shriver attend the premiere of HBO Documentary Films' 'Paycheck To Paycheck' at Linwood Dunn Theater at the Pickford Center for Motion Study on March 10, 2014 in Hollywood, California
Oprah Winfrey (L) and executive producer Maria Shriver attend the premiere of HBO Documentary Films' 'Paycheck To Paycheck' at Linwood Dunn Theater at the Pickford Center for Motion Study on March 10, 2014 in Hollywood, California
(Photo by Kevork Djansezian/Getty Images)

Despite the expected transaction, the studio is expected to remain on the property for another two years and will continue producing programming for the Oprah Winfrey Network (OWN). Harpo confirmed the transaction in a statement to Crain’s Chicago Business.

“We entered into a purchasing agreement with Sterling Bay for the four-building Harpo Studios campus in Chicago’s West Loop.”

The sale is expected to be closed within 30 days and will sell for about $32 million. The 3.5-acre campus credited with transforming an industrial area into a more prominent neighborhood will always be recognized for being the home of one of the most popular daytime talk shows.

Oprah Winfrey started “The Oprah Winfrey Show” in 1985 and moved into Harpo Studios in 1990. To recognize all that Oprah and Harpo Studios did for the economic development of the Chicago neighborhood, the street outside the studio was named “Oprah Winfrey Way.”

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