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Sears Holdings' bankruptcy could create a glut of empty space, starting at Hoffman Estates HQ

Sears Holdings' bankruptcy could create a glut of empty space, starting at Hoffman Estates HQ

Sears Holdings Corp.’s bankruptcy filing early Monday will flood the U.S. retail market with unused space, and that’s likely not the only negative impact it will have on the commercial real estate industry.

The company’s struggles also could create a huge hole in an office market that can hardly afford one: the far northwest suburbs of Chicago.

Sears Holdings owns its 2.4 million-square-foot headquarters in Hoffman Estates, a series of interconnected buildings within the sprawling Prairie Stone business park.

If the company’s Chapter 11 bankruptcy restructuring isn’t successful and the headquarters at 3333 Beverly Road goes dark, it would increase what is already the...

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