Tall & Urban News

Allstate is planning to sell their corporate headquarters campus located in Northbrook, a suburb of Chicago. Currently the Nevada-based warehouse developer, Dermody Properties, is offering US$232 million for the campus. The deal is expected to close next year.

Allstate has been located at this campus since 1967. Overall, the headquarters holds about 180,000 square meters (2 million square feet) of office space. Dermody Properties have not revealed what their plans are for the site yet. The agreement is contingent on government approvals involving entitles fo the property as well as certain economic or tax incentives.

This sale follows the trend of the Allstate workforce decreasing in Illinois. In 2017, the Illinois workforce was over double that in Texas, where another large Allstate office is located. At the end of 2020, the company had 5,221 employees in Texas and 6,497 employees in Illinois. However, Allstate is still planning to keep a significant presence in Illinois, and still has existing offices in downtown Chicago.

For more on this story, go to Crain’s Chicago Business.