Sears Selling Headquarters In Hoffman Estates: Report

HOFFMAN ESTATES, IL — Just one month after closing the last Sears store in the state, the parent company of the retailer is selling its headquarters in Hoffman Estates. Transformco has informed village officials it will be selling its corporate campus and surrounding 120 acres next year, reports Crain's Chicago Business.

The news comes a month after the Sears anchor store at Woodfield Mall, located in Schaumburg, closed after 50 years.

RELATED: Sears Closing Last Department Store In Illinois

The corporate division of the department store chain has called Hoffman Estates home since 1992. The 126-acre campus at 3333 Beverly Road, which includes a number of low-rise office buildings, totals 2.4 million square feet.

Transformco has hired a team led by Jason Simon, principal at Colliers International, to handle the sale, according to Crain's.

Sears, founded in Chicago in 1892, was the largest retailer in the United States through the 1980s. In recent years, most of the retail store locations have closed since the former parent company, Sears Holdings, filed for bankruptcy in 2018. Transformco began acquiring parts of that company the following year.

In the last 15 years, Sears and Kmart, which is also owned by Transformco, have closed more than 3,500 stores.

Crain's reports the Hoffman Estate property could be a candidate for a major redevelopment, including housing, commercial space and possibly even data centers.

The move follows a trend in recent years of businesses moving their corporate headquarters out of the suburbs. Last month, Dermody Properties, a Nevada-based warehouse developer, bought the majority of the Allstate campus on Sanders Road in Northbrook for $232 million.

Allstate moved into the Northbrook site in 1967 and the campus currently includes 2 million square feet of office space.

RELATED: Allstate Sells Northbrook Headquarters For $232M