Sears is officially closing down its last department store in Illinois. The department store began in Illinois and the first one opened in 1925. While Sears will be going away, there will still be 11 Sears Hometown Stores in the state. They sell hard goods and appliances and are smaller than a typical Sears.
Sears Holdings was acquired by Transformco in 2018 and plans to redevelop the property. The president of Real Estate for Transformco, Scott Carr, said, “We intend to reinvigorate and maximize the value of the real estate while enhancing the consumer experience with popular retailers that fit the regional draw of Woodfield Mall.”
Sears closing its last department store in its home state of Illinois
There are now only about 300 Sears and Kmart stores open in the United States. Back in the day, there were over 3,000. With the booming business of online retailers like Amazon, these big box stores and department stores are in trouble.
In addition to the Illinois store closing, the final outpost store is closing in New York City. The Sears department store in Brooklyn has been there since 1932 and the building is considered a landmark. The store is officially closing and many are wondering what will happen to the building. Luckily, the building is protected as part of the Landmarks Preservation Commission, meaning it will not be demolished.
Scott said about the location, “This location has potential for redevelopment within a variety of asset classes. We intend to reinvigorate and maximize the value of the real estate to meet the needs of the Brooklyn market.” However, many local residents said they will miss the deals they once found at the store. By the end of the year, there is expected to be only about 50 Sears stores left in the United States.
The COVID-19 pandemic also forced some retailers into bankruptcy, such as JCPenney and Neiman Marcus. What do you think of Sears closing its last department store in its home state? Do you still go to Sears?