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Seritage Reportedly Sells Two Chicago Sears Sites
Locally based Novak Construction is purchasing two former Sears properties from Seritage Growth Properties, according to published reports. They include a redevelopment of the five-story Sears at Harlem and North avenues in the West Side’s Galewood neighborhood, and the former Sears location in the North Side’s Six Corners neighborhood.
The Galewood sale was expected to close this past Friday, while the Six Corners deal will be finalized in the coming days. Terms weren’t available.
It’s not clear what Novak Construction plans to do at either of the two sites, which Seritage was redeveloping in partnership with Tucker Properties.
Ald. Chris Taliaferro, whose ward includes the Galewood site, said he doubted that Tucker would continue working on the property.
“John Novak has his own development company and his own construction company, so I don’t believe that they’ll be looking to hire outside construction or development teams,” Taliaferro told Oak Park.com.
Picture: A rendering of Seritage and Tucker’s Galewood redevelopment.
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