The Biz Week That Was: Sears’ HQ nearly razed, Dick’s buys Foot Locker, and Walmart warns of higher prices
The demolition of Sears campus in Hoffman Estates is almost done
The demolition of Sears’ former 2.4 million-square-foot headquarters in Hoffman Estates is entering its final stages. The 273-acre site on the west side of the village is being cleared in preparation for Dallas-based Compass Datacenters’ construction of five hyperscale data centers — each more than a quarter-million square feet. The project represents a $10 billion investment by the company and its partners.
Dick’s Sporting Goods to buy struggling shoe chain Foot Locker for $2.4 billion
Dick’s Sporting Goods is buying the struggling footwear chain Foot Locker for about $2.4 billion, the second buyout of a major footwear company in as many weeks as business leaders struggle with uncertainty over U.S. President Donald Trump’s tariffs. Dick’s said Thursday that it expects to run Foot Locker as a stand-alone unit and keep the Foot Locker brands.
A rare warning from Walmart during a US trade war: Higher prices are inevitable
Walmart, which became the nation's largest retailer by making low prices a priority, has found itself in a place it's rarely been: Warning customers that prices will rise for goods ranging from bananas to car seats. Executives at the $750 billion company told industry analysts Thursday that they’re doing everything in their power to absorb the higher costs from tariffs ordered by President Donald Trump.
The Greggory brings live-fire cooking, emphasis on hospitality to South Barrington
The three partners behind The Greggory say their goal for the new eatery is to become “an institution” in South Barrington. The Hearth Hospitality Group restaurant, which opened in March in the Arboretum of South Barrington, is led by seasoned restaurateurs Gregg Horan, Bill Veremis and Executive Chef José Sosa, whose collective backgrounds include years spent with the Gibsons Restaurant Group, Rosewood Steakhouse, RL, Polo Bar New York and more.
Bird-friendly rules extended to new residential construction in unincorporated Lake County
Requirements to protect local and migratory birds from crashing into glass or transparent surfaces in unincorporated Lake County have been extended to include new residential building construction. Changes to the building code require that at least 80% bird-friendly glass be used on exterior surfaces from the ground level to 100 feet. The rules take effect July 12 and also apply to accessory structures such as free-standing glass walls, railings, windscreens, greenhouses and similar features.
Carpentersville purchases former Kohl’s building at Spring Hill Mall for $2 million
Carpentersville made the last purchase at Spring Hill Mall on Tuesday, agreeing to buy the former Kohl’s building for $2 million. Kohl’s, which closed in April, was the last available property at the mall. West Dundee purchased the remainder of the property, including portions within the Carpentersville village limits, for $10.25 million.