By The Thornical Press Business Staff
December 17, 2021
HOFFMAN ESTATES, IL – Sears has announced that it will devest itself of its suburban Chicago corporate headquarters.
Transformco, the parent company of the once mighty retail giant, confirmed this week that in early 2022 it plans to market the 273-acre Sears corporate headquarters in the northwest suburb of Hoffman Estates, which has been the home of Sears since 1992.
“These changes have reduced our needs for a corporate campus that was built 30 years ago for the needs of a more centralized business,” Transformco spokesman Larry Costello said in a statement.
Remaining Sears employees have been working in a hybrid environment since the pandemic which has spurred the decision to sell the campus by Transformco, according to Costello.
The Hoffman Estates site is 2.3 million sq. ft. of office space on 273 acres with an additional 100 acres of undeveloped land.
Before declaring bankruptcy in 2018, Sears was considered one of the largest retailers in the nation. Many experts believe that if Sears had utilized the internet as a retail platform it could have rivaled or even prevented the rise of Amazon.
Former Sears CEO Edward Lampert’s company Transformco purchased the retailer and 425 stores in a 2019 bankruptcy auction.