Allstate to sell Northbrook headquarters as more employees work from home [Chicago Tribune]

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

Allstate told employees on Friday it was bringing the sprawling northern suburb campus to market after 54 years. The company did not disclose plans for a future headquarters, or a potential asking price for its current headquarters.

“Allstate employees have more choices about where they work and many choose to work from home,” Allstate spokesperson Mallory Vasquez said in an email Friday. “As a result, we will sell our office to Northbrook but plan to maintain our strong presence in Illinois.

Allstate has been a corporate staple in Northbrook since 1967, when it moved its offices from Skokie to a six-building complex on a 122-acre campus. The company said existing Friday Chicago office space at Head of the river and the Goods market will be available to employees, but it is not clear whether Northbrook will remain in his plans.

“When we get back to the office, we will determine if additional space is needed in the Northbrook region, ”Vasquez said.

Allstate has 7,892 employees in Illinois and more than 44,000 across the we, according to its website.

The potential sale of Allstate headquarters comes as more major employers push back a return to the office until 2022 amid the ongoing pandemic, with many taking a hybrid approach that will include working from home as an option long-term. In its 2020 annual report, Allstate said 95% of its employees work remotely “while maintaining internal controls and productivity” throughout the year.

Allstate generated net income of $ 5.5 billion in 2020, up 17% from the previous year.

Beyond real estate, the company is also exiting its life insurance and annuity business with a focus on auto and home insurance products. Life insurance sales have been declining at Allstate since 2018 and annuity sales were discontinued in 2014.

Last week, Allstate announced the closing of the sale of New York Allstate Life Insurance Company to Wilton Re for about $ 400 million. In January, Allstate agreed to sell its larger Allstate Life Insurance Company To black stone for $ 2.8 billion, which is expected to close this year, pending regulatory approval.

In June, Allstate agreed to buy low-cost auto insurance provider SafeAuto for $ 300 million, expanding its offerings for state minimum auto coverage.

Founded in 1931 as part of Sears, Allstate remains one of the nation’s largest public personal insurers.

[email protected]

© 2021 Chicago Tribune. Visit chicagotribune.com. Distributed by Tribune Content Agency, LLC.