Johnson Rice Moving Down, Not Out

April 12, 2010

Last week we reported that publishing heir Linda Johnson Rice had listed her Gold Coast condo in the prestigious Carlyle building for $2.9 million.

Linda Johnson Rice is selling her double unit in the Carlyle building to move into a bigger condo in the same building.

Those reports fueled rumors that Johnson Rice was going to leave Chicago and sell Johnson Publishing Co., the publishing company she runs that was founded by her father.

We have now learned that Johnson Rice is not moving out of Chicago or even out of the Carlyle. She is reportedly selling her double unit at 1040 N. Lake Shore Drive to move a few floors down in the building and into the condo owned by her late parents, John and Eunice Johnson.

The timing of Johnson Rice’s move makes sense. Her father died in 2005, but her mother, who coined the name of the magazine Ebony, just passed in January.

Earvin “Magic” Johnson had been in discussions to purchase Ebony and JET, the two magazines owned by Johnson Publishing Company, but talks broke down. The Johnson of NBA fame has no relation to the Johnson publishing family.

Johnson Rice, 52, also owns a home in Palm Springs, California. Her 5,363-square-foot unit on the 35th floor of the Carlyle has four bedrooms, six bathrooms and views of Lake Michigan from the den.

Her parent’s unit: It’s reportedly even bigger.

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