A Boston private equity firm purchased 119 JCPenney stores for $947 million in an all cash sale. The move comes more than five years after the retailer filed for bankruptcy.
The properties were sold to an affiliate of Onyx Partners, Ltd. with an expected Sept. 8 closing date, according to a July 25 news release by Copper Property CTL Pass Through Trust.
Here’s what we know.
All 119 stores that were sold are currently operational. The buyer, Onyx Partners, has not said whether they will remain open after being purchased.
JCPenney closed more than 200 U.S. locations when the retailer filed for bankruptcy amid the COVID-19 pandemic. More recently, seven store closings announced in February 2025 became official in May 2025.
Newmark told prospective buyers its JCPenney Retail Portfolio comprised 121 properties totaling 16.05 million square feet of retail space across 35 states.
The following properties in Illinois were sold:
Orland Park: 3 Orland Sq Dr at Orland Square
North Riverside: 7507 W Cermak Road at North Riverside Mall
Vernon Hills: Rt 60 & Hwy 21 at Hawthorn S/C
Algonquin: 800 S Randall Rd at Oakridge Court
Mokena: 11325 W Lincoln Hwy at Mokena Marketplace
Nathan Bomey contributed to this article.
This article originally appeared on Journal Star: JCPenney stores sold for $947 million. See list of Illinois locations