Despite falling profits for one-time retail giant Sears, the Hoffman Estates center it’s building—which will also house an NIU extension—is on schedule.

Sears has suffered a drop in sales and assets but still is ranked as number four among retailers. Sales slipped 4.3 percent last month, but officials say the project is going as planned.

Dan Hanesworth, project executive for Homart Co.—an affiliate of Sears—stated that while retail sales are down for Sears, the company as a whole is actually growing.

He also added that the Sears Tower has not been sold, contrary to popular belief. The company was able to obtain a loan and still operate the building.

Hanesworth said the “primary benefit (of the construction of the buildings) is the need to service tenants and users in area businesses. We also feel that it is our civic duty to help out.”

The building, which will be approximately 40,000 square feet, will be used to house a number of programs already being taught in various sites along I-90.

Lynn Waldeland, assistant provost for Academic Planning, said the building will consolidate all the programs in one specific site.

The building will house two computer labs, business, education, liberal arts, nursing and art programs. The building will also provide faculty members with adequate rooms and audio visual equipment.

According to Tom Montiegel, vice president of development, Sears is right on schedule in the development of the new headquarters.

The Sears center should be completed by the spring of 1992, which will enable NIU to finish up construction of the building which will serve as NIU’s extension there. NIU should then be able to have its building opening in the fall of 1992.

Montiegel also said the projected cost for the building is $5 million. None of this is being funded by the state.

The property that the building will be on is being donated by both Hoffman Estates and Sears, totalling 3.9 acres. All necessary stipulations made by the state were taken care of at a December, 1990 meeting.

NIU plans to help defer initial costs by leasing the building from Sears over a period of years. NIU also will increase programs to generate more money.