Allstate Reaches Agreement to Sell Northbrook Campus
29 November 2021 - 3:40PM
Business Wire
The Allstate Corporation (NYSE: ALL) today announced it has
reached an agreement to sell the property making up the majority of
its campus in Northbrook, Illinois, to Dermody Properties for
approximately $232 million. The sale is expected to close in
2022.
Allstate is selling the property as employees have more choice
about where they work and many are choosing to work from home. The
company plans to keep a significant presence in the Chicago area,
including its existing office space in downtown Chicago.
The sale will also reduce real estate expenses and further
advance Allstate’s multi-year Transformative Growth initiative to
increase personal property-liability market share by building a
low-cost insurer with broad distribution.
Allstate moved into the Northbrook site in 1967 and the campus
currently includes 2 million square feet of office space. The
buildings and land are located at 2675, 2700, 2755, 2775, and 3075
Sanders Road, Northbrook, Illinois.
About Allstate
The Allstate Corporation (NYSE: ALL) protects people from life’s
uncertainties with a circle of protection including cars, homes,
electronic devices, benefits and identity theft. Products are
available through a broad distribution network including Allstate
agents, independent agents, major retailers, online and at the
workplace. Allstate is widely known for the slogan “You’re in Good
Hands with Allstate.”
Financial information, including material announcements about
The Allstate Corporation, is routinely posted on
www.allstateinvestors.com.
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Al Scott Media Relations (847) 402-5600 Mark Nogal Investor
Relations (847) 402-2800
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