The old Sears store that sits vacant near Lindale Mall in Cedar Rapids could soon have a new future.
The Corridor Business Journal reports that a new year-round, all-purpose sports field could be coming to the former Sears store with a price tag of $25 million. The Cedar Rapids City Council is expected to discuss a resolution of support for above-standard financial incentives for the project, according to the CBJ. The incentives would be provided under the Brownfield/Grayfield Economic Development program.
The redevelopment project is being proposed by Shops at Cedar Rapids LLC. The CBJ reports that the company purchased the former Sears building in January of 2024 for $3.4 million, according to records with the Cedar Rapids assessor. Reserve Development is listed as the developer for the project. Attempts to contact them for further information were not successful according to the CBJ.
The CBJ reports that the Cedar Rapids Sears store was the last remaining store in the Corridor. It closed in July of 2018. Since the building has sat vacant since then, the building required “significant remediation of contaminants” in order to allow for any redevelopment…