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Buyer of Oprah's Water Tower condo plans rehab to multiple units

The buyer of Oprah Winfrey's massive duplex condominium in Water Tower Place plans to rehab the 9,625-square-foot unit and likely break it up into its four original condos.

As Elite Street reported, Winfrey sold the condo on the 56th and 57th floors for $4.625 million, far less than the $7.75 million she had asked for the unit last year.

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The buyer, a limited liability company owned by Chicago-based boutique interior renovation firm Centaur Interiors, has plans to completely overhaul the units, said Debra Dobbs of @properties, who represented Centaur.

"Everything bought will be gut renovated," Dobbs told Elite Street.

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Dobbs also confirmed that Winfrey's duplex condo most likely will be broken up into its original four units, although she said it's possible a buyer could opt to buy more than one adjoining unit.

Dobbs said she and Centaur's founding principal Michael Miller are "very keen" on Water Tower Place.

"It is an iconic building, and it's undervalued," she said. "There are things in the building that you just don't find anywhere else."

Dobbs noted that Centaur also owns another unit in Water Tower Place.

"Centaur is about to have 15,000 square feet (in the building) renovated and coming onto the market," she said.

Bob Goldsborough is a freelance reporter.

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