https://transformcoproperties.com/properties/sears-in-hoffman-estates-il/
https://transformcoproperties.com/wp-content/uploads/2022/01/Brochure_490.pdf
14 replies (most recent on top)
This means nothing. They just don’t need such a large facility when employees can work at home. And don’t bump old threads.
Given most recent news, this rumor has been confirmed.
No. They are considering "redevelopment" as well, which means, up to and including bulldozing all buildings. I doubt Transformco people will still be working on the property.
@7paq+1eWkyOgD Yep, pretty much this. Just because they're selling it doesn't mean they are leaving. As you mentioned, they might just make an arrangement to lease part of the complex to continue their operations, even after the property is sold. He might even sell it to an entity that he owns himself. We don't Know the particulars, but this is not as big a deal as some people are making it out to be.
Part of the sales clause may be to keep Transformco people there at a reduced rent. Don't assume Eddie will just vacate.
Ya, I wouldn't read too much into this. As mentioned by the poster directly below, these large sprawling complexes are mostly going extinct now. The few employees they still have at Sears HQ can simply just work from home. That's why they're selling this building. Just too much overhead maintaining a complex like this. But the company will continue, at least for now, with their online shopping, Sears Hometown Stores, and a limited number of full line Sears/Kmarts.
There are so many of these suburban campuses vacated, I can't imagine who would want this one. Allstate had a campus in S Barrington about a mile east of Sears- that was demolished maybe 5 years ago. AT&T in Hoffman estates is being reworked but it's been at least 10 years since AT&T left. McDonalds left Oak Brook, Allstate leaving Northbrook, and I am sure a few others are out there that I omitted. Lest we forget K-Mart campus in Troy- I wonder what is going on there? What a mess. Malls and Corporate campuses- mostly headed for extinction.
Is HE even up to date on its taxes? I remember that Hoffman Estates the city and Illinois were suing Sears for back taxes, and Eddie hasn't been very good about paying the bills since way before the bankruptcy.
The asking price is way overvalued just like everything else Transformco tries to sell.
Hoffman Estates has been on sale for over a decade. There's been a clown car full of real estate executives who've been unable to sell it.
Um, this was already discussed last Year. As mentioned below, this is old news.
@hhd+1eWkyOgD Exactly.
There were news reports last month, but now there's an official real estate listing. The pages show the layout of the property, including all of the empty land surrounding it which is also for sale or lease.
That's old news. Where have you been?
"Offers due by February 28, 2022"