Homan Square Redevelopment
For Sale
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3201 W Arthington St, Chicago, IL 60624
Former Sears and Allstate headquarters available for redevelopment.
Property Size550,000 SF
Days on Market1289
Property Features for 3201 W Arthington St
General Information
Standard status
Active
Size
550,000 SF
Class
C
Property subtype
Hospitality, Industrial, Mixed Use, Multifamily, Office
Zoning
PD-971
Investment Type
Redevelopment
Site & Location
Neighborhood
Lawndale
Building Details
Buildings
3
Tenancy
Multi
Listing Agency:
SVN | Chicago Commercial
Listed By:
Scott Maesel · License #IL 471005379
(312) 676-1860
Source:
Crexi
Added: Apr 14, 2023
Changed: Oct 16
Last Checked: Oct 20 at 9:28PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | Chicago Commercial
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Investment Insights
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The offering includes the former Sears Roebuck and Allstate Headquarters buildings located in Chicago's Homan Square neighborhood. The portfolio, with a total property size of 550000, presents the potential for multiple tax incentives. Purchase options include the full offering of all four assets: the 3333 W Arthington Building (Former Sears Building) and the 3245 W Arthington Building (Former Allstate HQ Building). 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 as a 181-unit residential building in 2017.
Key Highlights
- Opportunity to acquire multiple assets (4 buildings).
- Includes the historic former Sears Roebuck and Allstate Headquarters buildings.
- Adaptive reuse and restoration potential for historic properties.
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Current Use
Location Intelligence
Trade Area within ½ mile
854
Businesses Nearby
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Business Placement
Demographics for 60624, IL
37,547
Population
16,250
Households
2.3
Avg Household Size
34
Median Age
13%
College-Educated
77%
High-School Grad
3.5 sq mi
ZIP Area
10,728
Density / Sq Mi
$32,607
Median Household Income
$30,924
Median Earnings
$1,152
Median Rent
$223,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Former Sears and Allstate headquarters available for redevelopment.
Where is this mixed-use property located?
The property is located at 3201 W Arthington St Chicago, IL.
What are key features of this property?
This property features: Opportunity to acquire multiple assets (4 buildings).; Includes the historic former Sears Roebuck and Allstate Headquarters buildings.; Adaptive reuse and restoration potential for historic properties.
