What Are Future Plans for the Allstate Campus?admin / 0 Comments /
Allstate Insurance Company Headquarters was located at the Northbrook campus for more than 50 years. However, as with many American companies, the pandemic introduced a wide-spread shift for employees to work from home. With Allstate specifically, close to 95 percent of their employees have chosen to work from home. The need for the large multi-building campus was no longer needed by the insurance company and it was listed for sale.
According to an article published by TheRealDeal.com, the Northbrook campus was purchased for $232 million. Due to the shift in demand for e-commerce, commercial property such as this is no longer purchased with the intent to house employees, instead its investors are looking to develop the land to build warehouses.
The article states, “The Nevada industrial developer that agreed to pay $232 million for Allstate’s suburban Chicago campus aims to transform the site into 3.2 million square feet of warehouses — assuming it gets the approval of local governments.” Therefore, the key next step, however, will be to get approval from the neighboring towns of Glenview, Northbrook and Prospect Heights. The developer hopes to gain the confidence of these towns, who may be concerns about the impact of a large warehouse facility as a neighbor.
Read the entire article.