Oprah Winfrey sells property at huge loss

Oprah Winfrey has listed her Chicago, Illinois apartment for sale for 1.78 million - half the price she originally paid for it.

The television star bought the lavish property in the Streeterville district of the city for 3.57 million in 2006 and later attempted to sell it for 3.83 million in 2008, but failed to attract a successful bidder.

The lavish pile, part of a 1913 Beaux Arts-style building designed by architect Benjamin Marshall, boasts its own library, formal dining room, butler's quarters and a wine room.

Winfrey has now dropped the price of the apartment as the local property market struggles in the economic downturn.