LAST SEARS IN CHICAGO CLOSING ITS DOORS IN JULY
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.