The headquarters campus of Sears Holding is marked by a sign.
Sears is considering a sale of its corporate headquarters in suburban Chicago, as its retail footprint continues to shrink.
The 273-acre property in the suburb of Hoffman Estates, Illinois, will be marketed to potential buyers in early 2022, according to the parent company of Sears and Kmart. Other uses for the site are being considered.
It is not known how many employees work out of the corporate office, but as of last year it housed more than 4,000 workers.
Many workers have been using a hybrid approach to going into the office during the Pandemic.
The changes have reduced the needs for a corporate campus that was built 30 years ago for a more centralized business, according to a statement from the CEO.
We are exploring development opportunities for the property that will enhance its value for both associates based there and the broader community.
Edward Lampert, the former CEO of Sears, bought the department store chain and many of its stores out of a bankruptcy auction.
There are over 300 Sears and Kmart stores in the United States.
Sears had more than 3,500 stores in the nation. The company fell out of favor with consumers and many of the shops have been shuttered. The last Sears store in Illinois closed last month.
Sears headquarters has been in the property in Hoffman Estates since 1992.
The Chicago Tribune reported on Sears plans.
