Water Tower Place isn’t just another high-rise on Michigan Avenue. For nearly five decades, it has loomed over the Magnificent Mile as part shopping mecca, part luxury address, and part Chicago legend. Now, one of its most talked-about condos--the 56th-floor home once owned by Oprah Winfrey --is for sale.

The northeast corner unit spans 3,655 square feet, essentially resembling a house in the sky. Through 25 oversized windows, the lake sprawls out like an ocean, and the city skyline rolls north to Evanston. It’s the kind of view that makes you forget what you were saying, and maybe even what you came into the room for.

Since it was built in 1976, the 74-story tower has been considered one of the city’s premier addresses. Its floor plans have aged gracefully, and when pair

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