3201 W Arthington St Chicago, IL 60624

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Listed by Scott Maesel · License #IL 471005379

Source Crexi

Added: Apr 14, 2023 Updated: Jul 10 at 3:41PM Checked: Jul 21 at 4:48AM

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Investment Insights

Based on property information with market context.

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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FAQs

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.