Homan Square Portfolio | Various Purchase Options
Homan Square Portfolio - 3333 W Arthington, 3245 W Arthington, 3240 W Arthington, 3201 W Arthington
Marketing description
Property Description
Offering includes the Former Sears Roebuck and Allstate Headquarters buildings in Chicago's Homan Square neighborhood. The Portfolio includes the potential for multiple tax incentives.
Purchase options include:
-The full offering - all 4 assets
-3333 W Arthington Building (Former Sears Building)
-3245 W Arthington Building (Former Allstate HQ Building)
All prices are subject to offer. Please see the Sale OMs for complete details.
Location Description
The site of the former Sears headquarters was redeveloped beginning in 1988 as Homan Square. The redevelopment of parts of this site has included new construction of owned and rental mixed-income housing; adaptive reuse and restoration of historic properties for use as a community center, school, and other facilities; a new community pool and recreation center; and associated retail. Homan Square is often used as an example of the revitalization of North Lawndale. The former Sears tower was rehabbed and reopened to the public as “The John D. and Alexandra C. Nichols Tower” in 2015. It now houses non-profit groups and youth association offices. The 3301 W Arthington was also successfully redeveloped a 181-unit residential building in 2017.
Investment highlights
- Large-scale redevelopment opportunity in Homan Square consisting of 2 buildings, a parking structure and land.
- Sears, Roebuck and Company Administration Building is a landmarked five-story masonry building, occupying about
- 3/4 of the block facing West Arthington between South Homan and Spaulding with a classical revival façade.
- The opportunity also includes the 10-story former Allstate Headquarters
- Walking distance to the Kenzie-Homan CTA Blue line stop and easy access to the I-290 Expressway.
- The Administration Building was designed and constructed as the executive headquarters for Sears, Roebuck and Co. in 1905, and it continued that function until 1973, when the company moved to the Sears Tower (now Willis Tower) in downtown Chicago.
- The Administration Building was designated as a Chicago Landmark in 2002.
- Additional land for parking or ground-up development is available as part of the site.
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