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Friday, 15 October 2021 19:51

Allstate Selling Headquarters After 54 Years in Northbrook, IL

Written by Eric DeGrechie, Patch

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The pandemic has altered the trajectory and long-term plans for many companies across the U.S.

Allstate has been headquartered in Northbrook (Northfield Township), IL, since 1967. That is all about to change as the insurance company is selling the campus on Sanders Road.

 

"Allstate's employees have more choice about where they work and many are choosing to work from home," Allstate spokesperson Mallory Vasquez told Patch. "As a result, we will sell our office in Northbrook but plan to maintain our significant presence in the Chicago area."

 

According to Vasquez, 95% of Allstate's workforce is currently working remotely. The company has invested $14 million in equipment for employees to work from home. Allstate employs nearly 8,000 employees in Illinois, according to its website.

 

Allstate is not releasing the sale cost of the property or any of its future plans in terms of finding new headquarters at this time. Bloomberg reported Oct. 15 a buyer is already in place. Vasquez said an internal announcement was made Oct. 15, but didn't provide Patch with any specific details.

 

Earlier in October, Allstate sold Allstate Life Insurance Company of New York to Wilton Re for $400 million. The sale closed Oct. 1. This transaction, along with the previously announced agreement to sell Allstate Life Insurance Company and certain affiliates to entities managed by Blackstone, will complete Allstate's exit from the life and annuity businesses.

 

We thank Patch for reprint permission.

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