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Chicago & Midwest  + Chicago  + Greater Chicagoland  + Illinois  + Industrial  | 

Compass Datacenter Buying Sears HQ in Hoffman Estates 

After nearly 30 years, the sprawling 273-acre Sears corporate headquarters site in Hoffman Estates, Illinois, will have a new owner. Dallas-based Compass Datacenters has signed a contract to buy the property, reported Crain’s Chicago Business.

Sears, which became part of Transformco in 2019 after ESL Investments acquired the struggling retailer, put the northwest suburb site up for sale in early 2022, and with the purchase, this would be Compass’ first location in the Chicago area. While a price wasn’t available, the 2.4 million square foot property in Cook County has an assessed campus value of $50 million in 2021, down from $150 million in 2013.

Sears declared bankruptcy in 2018 and at one point, had more than 4,000 employees on-site. Founded in 2011, Compass Datacenters has 16 data center sites around the world, and the company was recently acquired by Brookfield and investor Ontario Teachers’ Pension Plan in June for an estimated $5.5 billion.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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