Sears and Kmart will be closing more than 100 stores after disappointing holiday sales revenue, that announcement coming just two weeks after the state of Illinois guaranteed parent company Sears Holding Corp.
Chicago Mayor Rahm Emanuel said he's staying involved in getting the state's major tax package passed. Last week the tax package including incentives for the CME Group was shot down by the Illinois House of Representatives."
Illinois lawmakers will be returning to the state Capitol for another try at passing tax relief for businesses, including some big corporations threatening to leave the state.Speaker Michael Madigan announced the House will hold a special session on Monday in another effort to move the bill forward.
A Northwest suburban school district bashed changes made to an Illinois tax incentives bill.Sears corporate headquarters sits in School District 300, and the district wants any new tax incentives to have new stipulations.
Supporters of a northwest suburban school district are worried a plan to give tax breaks to Sears could hurt their district for the next 15 years. There's a one-of-a-kind tax district in Hoffman Estates called an Economic Development Area - or EDA.
Richard Sears planted his roots in Chicago back in 1887 after hiring a watchmaker named Roebuck. After more than a century in business the famous Sears, Roebuck and Co. catalog still offers pretty much everything, from tractors to high chairs. But the company may soon change location.