Allstate to sell Northbrook headquarters as more employees work from home

[TexasTowelie]

With 95% of its employees working remotely during the pandemic, insurance giant Allstate is selling its longtime Northbrook headquarters.

Allstate told employees Friday that it is putting the sprawling north suburban campus on the market after 54 years. The company did not disclose plans for a future headquarters, or a potential asking price for its current one.

“Allstate’s employees have more choice about where they work and many are choosing to work from home,” Allstate spokeswoman Mallory Vasquez said in an email Friday. “As a result, we will sell our office in Northbrook but plan to maintain our significant presence in the Chicago area.”

Allstate has been a corporate fixture in Northbrook since 1967, when it moved its offices from Skokie to a six-building complex on a 122-acre campus. The company said Friday existing Chicago office space at River Point and the Merchandise Mart will be available to employees, but it is not clear if Northbrook will remain part of its plans.

Read more: https://www.chicagotribune.com/business/ct-biz-allstate-sell-northbrook-headquarters-20211008-bcohc3rrkzen3fggshudecf2ge-story.html

[Sherman A1]

1. More and more of this will come to pass

Office real estate is not going to be a good investment. Companies are going to save on the overhead as it is no longer needed.