Mixed-use developments to replace Chicago’s last two Sears stores

The North Side stores would be turned into retail and residential space

Chicago /
May.May 17, 2018 01:00 PM

Rendering of the planned mixed-use project at North and Harlem avenues

The fates of the last two Sears department stores to be in operation in Chicago have been decided.

A joint venture between Tucker Development and Sears real estate offshoot Seritage Growth Properties will redevelop the stores into mixed-use properties with retail and residential space.

Tucker announced it would partner with the real estate investment trust to redevelop the last open store in the city, located at the Six Corners shopping district in Portage Park. The store is expected to close in July.

Last month the joint venture announced its mixed-use plan for the now-shuttered store on the corner of North and Harlem avenues between Galewood and Elmwood Park. Renderings show what appears to be a completely new six-story brick-clad building with ground-floor retail, although Seritage and Tucker said they were still in the design phase for both projects.

Sears Holdings created Seritage in 2015 and sold it nearly all of its real estate assets with the task of making them profitable, either by selling them, redeveloping them or re-leasing them.

The REIT has gotten creative with Sears properties elsewhere in the country. In Santa Monica, California, it’s turning a landmarked Art Deco Sears store into a creative office space in partnership with Invesco.

Tucker is also currently active in Fulton Market. It announced last month it would rejigger the layout of its planned condo tower on West Randolph Street that it’s developing with Related Midwest. The redesign reduces its height to 495 feet from 570.


Related Articles

arrow_forward_ios
Chicago City Council OKs 50 single-family home development in Norwood Park
Chicago City Council OKs 50 single-family home development in Norwood Park
Chicago City Council OKs 50 single-family home development in Norwood Park
An early rendering of 523-45 South Wabash Street (BKV Group)
Chicago City Council approves $350M mixed-use development in Loop
Chicago City Council approves $350M mixed-use development in Loop
Donald Trump with the Trump International Hotel & Tower in Chicago (Getty, iStock)
Trump gets another tax break on Trump Tower retail space
Trump gets another tax break on Trump Tower retail space
Jenner & Block poised to sign new lease at Chicago’s River North building after settling suit with landlord
Jenner & Block cuts space at 353 N Clark after settling suit with landlord
Jenner & Block cuts space at 353 N Clark after settling suit with landlord
Industrial investors say ineffective leadership in Chicago, uncertainty of Cook County property taxes are risk factors to investing: Report
Chicago real estate pros’ biggest worries: politicians and taxes
Chicago real estate pros’ biggest worries: politicians and taxes
Mayor Lori Lightfoot (Getty)
Plans to ease cannabis restrictions in Chicago near final approval
Plans to ease cannabis restrictions in Chicago near final approval
Germania Club building, 108 West Germania Place (Google Maps)
Site of Chicago’s van Gogh exhibit sells for $15M
Site of Chicago’s van Gogh exhibit sells for $15M
Des Plaines Theatre at1 487 Miner Street (Google Maps)
Century-old Des Plaines Theatre set to open in October after $6.6M renovation
Century-old Des Plaines Theatre set to open in October after $6.6M renovation
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...