Mixed-use properties will replace the last remaining Sears stores in Chicago. Tucker Development and Seritage Growth Properties will redevelop stores in the Portage Park and Galewood neighborhoods into projects with retail and residential components, according to the Chicago Tribune.
“We are thrilled to partner with Seritage on these two dynamic projects that will transform these properties into vibrant retail and residential destinations,” said Aaron Tucker, chief investment officer of Tucker Development.
The Galewood project encompasses the department store and a nearby Sears Auto Center, both of which closed last year. The Portage Park store will close in mid-July, Sears announced last month. Both stores were among the nearly 300 properties Sears Holdings sold to Seritage in 2015.
This Portage Park store, which opened in 1938 and is to close in July, is Chicago's last remaining Sears. The city's very first Sears store opened in 1925
By Brannon Boswell
Executive Editor, Commerce + Communities Today
