LAST SEARS IN CHICAGO CLOS­ING ITS DOORS IN JULY

USA TODAY Weekend Extra - - MONEY -

Sears will soon close its last store in Chicago — the city the iconic re­tailer has called home or been closely con­nected to for 120 years. The store, at 4730 W. Irv­ing Park Road, will go out of busi­ness in mid-July with the liq­ui­da­tion sale of its mer­chan­dise start­ing April 27. The Chicago store­front is part of a batch of 265 Sears and Kmart lo­ca­tions pur­chased by real es­tate in­vest­ment trust Ser­itage Growth Prop­er­ties in 2015, then leased back by the re­tailer. An in­vest­ment firm owned by Eddie Lam­pert, Sears Hold­ings’ CEO, has a sig­nif­i­cant own­er­ship stake in Ser­itage. Sears has closed hun­dreds of stores amid slug­gish sales and the shift­ing tastes of shop­pers who in­creas­ingly pre­fer to buy on­line or from ri­val re­tail­ers.

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