Why Is Oprah Renting Out Her Apartment? (Or…Yay! Go Rent Oprah’s Apartment For $15K!)
5:30 pm, November 23rd | by Hillary Reinsberg
The formal, sprawling Chicago apartment is now available for rental for $15,000 a month. For more than 4,600 square feet on one of Chicago’s premier streets, it’s a steep price, but not a totally outrageous one, right? There are certainly wealthy and successful Chicagoans who could afford it and would delight in its solarium, marble countertops and so on. We needn’t regale you with the tales of grandeur that the apartment, which Oprah paid $5.6 for, affords.
What we do need to do is ask why Oprah is renting out her apartment. $15,000 a month for a year would make Oprah $180,000. It’s additional income we’d be happy to have, but Oprah has around $2.7 billion in her pocket. Why go to the trouble? (Yes, we know there are tax benefits and a whole host of reasons to rent out your place, but not really when you’re a billionaire and you’re probably going to sell the place anyway).
Yes, it’s true — she never lived there due to “privacy concerns” and now, without her show to host in Chicago, there’s not much need for a Chicago pad.
But why not just sell? (Or if the market’s that bad, just sit on it?)