Sears closes flagship Loop location
Sears closed its flagship location at Madison and State Street Sunday.
After an 18 year hiatus from downtown, Sears opened the store in 2001. But after years of declining sales, the store is once again saying goodbye to downtown.
On the last day of shopping the pickings were slim. But what was left included the racks and tables the merchandise was stacked on. It was all sold at basement prices.
Profits have been in the basement for the past two years for the Hoffman Estates-based company, which is why its closing the flagship store. The Chicago Tribune reports the company lost $1.4 billion last year and more than $900 million the year before.
CPS is moving its headquarters to the building next.