Tommy boy has officially announced that they are going to be trying to sell the Northbrook property among other "future workplace" ramblings
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HO relocating to Chandler AZ
If there's a date announced I expect the buyer is in pocket, waiting for the legal due diligence to be done to close in March 2022
I agree with the person that says this has been in the works for 5 years. It is probably due to corporate wanting to sell off valuable property but let's face it that Chicago has become a sh-t ho-e with gang violence and crime.
This has been in the works for at least 5 years and was sealed when started they expanding Irving, the area in Irving has a cheaper cost of living, land was cheaper, everything is cheaper.
It was about 4 or so years ago that many employees who were at Northbrook were re-classified to WFH or field employees essentially emptying out a lot of office space. Then before the pandemic they were hiring for high level positions and not requiring them be in Northbrook but they could be in one of several places.
Jobs are being posted that say remote but exclude high income states like California, and before that was posted publicly there would be candidates for positions that were fully qualified but not given offers due to living in high cost of living states, so they would offer to a person living in a lower cost of living state where they could offer them less money.
I know first hand of many high band level and executive level employees who used to live in the Northbrook area have already relocated to other areas as they were told they no longer needed to be in the area. There are several that moved last year.
I’d love to see progressive buy Allstate.
Really…who cares!! All the HO elite get what they deserve!!
If you think about it, Progressive does not need all this real estate when they buy Allstate. It will be much easier to manage the Progress-All transition without having to dump the Allstate Northbrook home office and everything that goes along with that headache. There is plenty of room in Mayfield Village to handle the 100 or so Allstate employees Progressive will need to transition to their home office to handle its new Allstate toy. And yes, Allstate’s books look so pristine with all the cash on hand from the Home Office land sale. A much skinnier Allstate is very attractive to Patty and the gang. Wilson is getting a standing ovation from the Carl Ichan fan section as we speak. The cash 💰 is in hand now for that share repurchase program and I smell a special dividend for the shareholders to make them happy also. We can let Progressive fix the broken Auto product. Share the good news with all the folks in Pune! Mr. Gupta is coming in to town riding his elephant with 71k shares of Allstate strapped to its hind end!
Developers have wanted that prime property for years. I'd be a little concerned if I were a home office employee about now.
probably sold already
I'm sure it'll sell quickly and we'll make a huge profit as office space is in such high demand these days.
Good idea. With all the crime in Chicago it’s best to leave there as much as possible to keep employees “Safe”. Hahahahaha
Hurry hurry Tommy Boy. Sell that bi--h. India is waiting for ya ! All that money you can make is just great for your yacht and crew ! Good for you. I can’t wait to leave this he-l ho-e.
Yep! Easier to lay people off when they don’t have a place to work.