Sears Southlake to be Auctioned on May 31

sears holdings to sell merrillville, in location

Sears Holdings, which operates Sears and KMart stores, recently announced 40 stores to be closed.  NWI stores were spared, however, Sears Southlake location will be auctioned off on May 31

May 21, 2018-Sears Holdings recently announced the latest round of store closings.  The announcement will shutter an additional 40 Sears and KMart stores nationwide as the struggling retail chain attempts to regain footing.  Sears, Roebuck and Co. was once the “World’s Largest Store” and boasted as much by purchasing WLS Radio and Television stations.  (See http://abc7chicago.com/shopping/sears-through-the-years-7-things-to-know-/3145940/ for a brief history of the Store).

Despite being spared from closure, the Sears Merrillville location will be sold at auction on May 31, 2018.  According to the sales listing, “Potential investors are afforded a unique opportunity to acquire fee simple ownership and evaluate repositioning with sale-leaseback alternatives.”  In other words, Sears would like to sell the building and real estate and lease back the property.  Sears stock has declined from over $125 in 2007 to just over $3.60 today.

For more information about the sale you can visit:  https://marketplace.realinsight.com/sales/details/177

 

 

 

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