https://www.dailyherald.com/news/20230912/done-deal-texas-data-center-firm-closes-on-deal-for-sears-campus-in-hoffman-estates
22 replies (most recent on top)
No need to bump this already unnecessary thread. Whoop ti do. They are relocating their HQ'S. In other fascinating news Today, California is located west of NY. 🙄
Thanks Eddie!
It’s unclear where, if anywhere, Transformco employees are based.
That quote says it all.
Sale price was $194 million
https://therealdeal.com/chicago/2023/09/17/sears-headquarters-sold-to-compass-datacenters-for-194m/
https://product.costar.com/home/news/shared/1877602680
Demolition could start this fall
https://www.dailyherald.com/business/20230913/demolition-of-sears-campus-in-hoffman-estates-could-begin-soon
I don’t see Transformco listed as a notable tenant?
Hey. Some nice insight about the new "HQ": https://marketplace.vts.com/building/33-west-monroe-street-chicago-il
How will this impact the implosive growth Sears and KMart have seen over the past couple years?
@5grl+1oAIt3Pt: bitter party of one, your table is ready.
Regarding one of the comments
"The ghosts of CEO's past will be standing at the exit from the cafeteria handing out horrid tasting holiday cookies and shaking our hands.".....
That does bring back memories of the holiday luncheon Sears scheduled a couple weeks before Christmas. The food they served reminded me of lunch from a high school cafeteria and those cookies were so stale you could use them as a hammer.... after a while there was so much turnover we didn't even recognize or know most of the exec's greeting us. It is rather sad to hear the whole complex is going the way of the wrecking ball. Just like the former Allstate campus about a mile east of there... it will soon be a distant memory.
Of course, Fast Eddie was nowhere to be found.
Yes. The pharmacy will remain open during teardown. In addition, the 2 dog runs, in D and B building parking lots, will be available for any persons feeling the need to make a final deposit as a show of eternal faith in Eddie's Turnaround efforts.
Rumor is the Yatra lab will reopen as the wrecking ball strikes to showcase technology unneeded and not useful at any retail location in the mid 2000's and beyond. Examples are hinted at including IBM Mass Storage devices, ZIP Drives, and the OS/2 DOS Compatability window.
The ghosts of CEO's past will be standing at the exit from the cafeteria handing out horrid tasting holiday cookies and shaking our hands.
Is the pharmacy staying Open?
Presence means being "present". If Sears head office, existed in someone's broom closet, in IL, then technically, Sears is still "present" (and thus has a presence) in that state.
Now if they moved their nominal HQ to a basement in, WI, or IN, nearby instead, then they would no longer have a "presence" in IL.
If any of you walk by 33 West Monroe Street, I'd be interested to know whether the names Transformco, Sears, or Kmart are visible in any public place (such as the street or the lobby).
I'd take the term "presence" as meaning something visible..........something that the public could actually see. A performer makes a presence when they're on the stage or out on the street, not when they're tucked away in a room, on some floor in a hotel.
Sorry, I meant "they don't need multiple floors", below, not stores.
@eza+1oAIt3Pt How much Space do you want them to Rent? And why would this information make a difference? As I mentioned in my below post, they are a tiny company with a handful of stores now. They don't need multiple stores. Heck, a few employees could run it out of their basements if they want. But as long as one of those basements are in that area, they DO have a presence there. Semantics, sure, but it's still factually true.
How many stories they occupy is irrelevant. A company with about 11 locations, give or take, can probably operate in a 5 room office complex on only 1 floor. That is not the point. The idea is, that their office is still present in the area, in 1 form, or another. This would be true even if they were operating out of a tiny bathroom, or broom closet. Either they are there or they aren't. And right now, they are.
Blockbuster video went from however many thousand locations, to just one now. Regardless, they still exist.
I'd be interested to know how many floors Transformco is occupying at 33 West Monroe Street. And yes, quite a lot of space is for lease there: https://33westmonroe.com/leasing
@ceu+1oAIt3Pt I see your point, but there are no stores in Illinois and now Transformco is simply leasing some space downtown.......they don't own the property for their headquarters anymore. The building on West Monroe is older & quite small; only 29 stories (my apt. bldg. is 30), and the building is still advertising space available for lease! Transformco didn't just move down the street; in reality they have lost any sense of a real presence in Chicago (and about everywhere else).
@ceu+1oAIt3Pt Exactly right, this is just sensationalized nonsense. The operations just moved down the street a bit.
"closes the book on Sears' presence in the Chicago area" doesn't seem quite accurate, since Transformco has moved into a downtown Chicago office building at 33 West Monroe Street -- a few blocks from what used to be called the Sears Tower.