Sears was the nation’s largest retailer by revenue until the late 1980s, when Walmart surpassed it. Around that time, the annual Sears “wish book” was a must-read for children in the months before Christmas.
The Sears Tower was opened in 1973 and is 1,730 feet tall, including its antenna. It was originally named for retailer Sears, Roebuck & Co., which moved its headquarters to Hoffman Estates, Ill. in 1992. The Tower was renamed in 2009 to Willis Tower after the insurance broker Willis Group Holdings leased the naming rights. However, many locals still refer to the landmark skyscraper as the Sears Tower.
The shuttering of the last Sears in Chicago is especially poignant. The city has been tied to the retailer’s identity since it first moved its headquarters there from Minnesota in 1887 and later put its stamp on the city’s skyline with the Sears Tower, the tallest building in the world when it became Sears’ corporate base in 1973.
“Although we are disappointed by this last store closure in Chicago, by no means does this change our commitment to our customers and presence to Chicago’s residents,” the company said in a statement.
Sears, which also owns Kmart, has struggled financially in recent years, laying off scores of employees, borrowing hundreds of millions of dollars and dealing with credit downgrades. But in its most recent earnings period, the company reported a profit thanks to a boost by the new federal tax law.
The company said its Sears stores in the U.S. were “negatively impacted by consumer electronics,” amid fierce online and brick-and-mortar competition from retailers like Amazon.com and Best Buy.
The retailer says it will continue to streamline operations and promote its Shop Your Way loyalty membership program, among other moves, to help it regain its relevance and footing.
Sears declined to comment on the store closures and auctions.
Buyers have until May 1 to signal interest in the properties for sale. Later that month, interested buyers will be able to bid on them in real time in an online auction, according to Real Insight Marketplace.
The following Sears stores are for sale in online auctions:
- Castleton Square Mall, Indianapolis, Indiana
- Southlake Mall, Merrillville, Indiana
- University Park Mall, Mishawaka, Indiana
- Twelve Oaks Mall, Novi, Michigan
- 330 Siemers Dr., Cape Girardeau, Missouri
- South County Center, Mehlville, Missouri
- Mid Rivers Mall, Cottleville, Missouri
- Battlefield Mall, Springfield, Missouri
- Great Northern Mall, North Olmsted, Ohio
- Richland Mall, Mansfield, Ohio
- SouthPark Mall, Strongsville, Ohio
- Parkdale Mall, Beaumont, Texas
- Deerbrook Mall, Humble, Texas
- San Jacinto Mall, Baytown, Texas
- Rolling Oaks Mall, San Antonio, Texas
- Plaza Paseo Mall, Pasadena, Texas
Is your Sears location on this list?
(Sources: Chicago Tribune and USA Today and ABC News and Business Insider)
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