Sears Considering Whether To Stay In Hoffman Estates

CHICAGO (CBS) — With a series incentives set to expire next year, retail giant Sears Roebuck and Co. is considering whether to move from its headquarters in Hoffman Estates.

Over two decades ago, Sears got a set of incentives, reportedly valued at $240 million, to lure it from its old corporate headquarters at the Sears (now Willis) Tower in Chicago to a sprawling complex in Hoffman Estates.

Those incentives are set to expire in 2012, and the company has “had some preliminary discussions with Hoffman Estates and did commission and economic impact study” on what a move might mean to the area, according to Sears spokesman Chris Brathwaite.

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“It’s very important for everyone to understand that we have made no decisions at this point. Sears has a very long history here, and we value our relationships with the Village of Hoffman Estates and the State of Illinois.”

Brathwaite said any speculation about whether it will stay in the northwest suburb “is not fair to our associates, particularly so early in this process.”

The Daily Herald reports, state Rep. Fred Crespo, a former village board member, has introduced House Bill 3435. The bill aims to keep Sears in the village for 15 more years by continuing property tax breaks that were part of the original deal.

Gov. Pat Quinn on Monday said he is looking to keep Sears right here. On Friday, he reached a deal that provides $100 million in incentives to keep cell phone giant Motorola in its Libertyville headquarters.

“I have talked to CEO of Sears on other issues,” said Quinn. “We look forward to working with Sears. We’ll be talking about how to look at the future.”

  • Jim

    Where is the property tax help for the middle class? Make companies pay their fair share. I do not feel that the state income tax hike was fair, but I am forced to pay it or move out of the state.

  • FunnyStuff

    Quinn has opened Pandora’s box. More to come, I am sure.

  • tunafish charlie


  • Consolidate or Vacate

    Move in with your old buddy, Allstate–they might have plenty of room.

  • Steven Bayne

    Quinn helps out the big businesses using tax money from little companies. The big fat cat unions, also, love him for it. Wake up Illinois. He’s not for the little guy.

  • Tanya Livingston

    Illinois should not give away the “store” to this store. Eddie Lampert is a trillionaire venture capitalist. He made a poor decision to buy a dying brand; the State should not bail him out.

    • johnktim

      Yeah from now one, expect a line item in Sears quarterly report: how much we saved with tax incentives this quarter. Quinn should know when to hold (not Sears holdings) and when to fold. This was not one to fold on.

  • Joe Patroni

    Montgomery Wards, Woolworths, Goldblatt’s, Venture, Turnstyle, Circuit City, Blockbuster, Kroch’s and Brentanos, Wieboldt’s, Korvette’s and going, going, Sears/K-Mart.

  • franklin808

    I hope Quinn can convince Sears to stay. It would be worth every penny to get them to stay. $100 million for AT&T and another $67 Million for someone else just last month. Big business should get tax breaks because they can move to other states.Illinois would look bad if businesses start to move out, We don’t have to worry so much about smaller businesses because they are stuck here.

  • aswort worth

    well fingire bang it

  • srdib

    boy, talk about strong arm tactics. so all a company has to do it threaten to leave and bang, you get all this money thrown at you. what a country.

    • ucity88

      LOL! Thanks, Yakov Smirnoff… ;)

  • john fyda

    sears is not interested in anyone but has become absolutely miserable under the overwhelming influence of sears within the “sears Holding” company. I’ve lost more benefits in the last 5 years than i knew i had. hourly associates don’t get raises, have no course of input , and are treated like livestock, but are expected to smile and bend over backwards. sears doesn’t need concesstions, they don’t have the money to has only been a few years since they moved kmart from michigan.

  • Vicky

    Any corporation with any sense would want to leave ILLARipOff.

  • disappointeed

    it would be nice if they told there people before media but i guess they will be like wards go to work and door be locked

  • mary

    quinn hiked the taxes & now has to go throwing money around to keep companies in ill. makes no sense repeal the tax & everyone wins instead of the ones saying they will leave. best idea is to rid ourselves of the biggest loser pat quinn..

  • Quinn Fights To Keep Sears, Other Companies In Illinois « CBS Chicago

    […] But the mayor of Hoffman Estates, where the company is now based, says a departure by Sears is a rea… […]

  • Jeffery Biss

    If corporations are going to use extortion to get the public to subsidize their costs, then they should have their corporate charter revoked. If corporations are not going to act in the public interest then the public owes them nothing in return. Sears is simply expressing the sense of entitlement that corporations and the wealthy have in our society without any sense of obligation. It’s time that that end.

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