HOFFMAN ESTATES, Ill. – Sears plans to sell the sprawling suburban Chicago headquarters that has been the home of the struggling retailer for three decades.
Transformco, the parent company of Sears, confirmed this week that in early 2022 it plans to market the 273-acre head office in the northwest suburb of Hoffman Estates.
Transformco has been downsizing Sears operations and staff for several years.
“These changes have reduced our need for a corporate campus that was built 30 years ago for the needs of a more centralized business,” Transformco spokesperson Larry Costello said in a statement.
Costello said employees were operating under a hybrid structure during the pandemic, with a mix of office and remote work.
He declined to say how many employees work in Hoffman Estates, or where a future head office might be located.
The Hoffman Estates campus housed more than 4,000 Sears employees as of 2017, company documents show.
The site includes a 2.3 million square foot, 273 acre head office, including 100 acres of undeveloped land.
Sears was once the nation’s largest retailer, but has struggled in recent years, seeking Chapter 11 bankruptcy protection in 2018 with billions of dollars in debt.
Transformco, an entity controlled by the former CEO of Sears and its largest shareholder, Edward Lampert, bought the retailer and 425 stores in a bankruptcy auction in 2019.
Hoffman Estates has been home to Sears headquarters since 1992, when the company moved from the Sears Tower in downtown Chicago.