According to a report from Crain’s, Allstate recently sold their 10-story office building located at 29 N. Wacker Drive for over $11 million to Dr. Sanjay Gandhi, a physician from the northern suburbs and local real estate investor. This sale comes just two years after Allstate purchased the property for $29.7 million in January of 2022.
Originally, Allstate had plans to either consolidate their downtown offices or use the space as their new global headquarters. However, they have now decided to sell it instead.
The company was also in the process of selling its corporate campus in the northern suburbs for $232 million at that time.
Colliers’ Alissa Adler and John Homsher are currently marketing this 133,580-square-foot building on behalf of Allstate.
The recent news states that Connect CRE has reported on how insurance giant company Northbrook-based firm has successfully sold off its Chicago office building situated at Steep Discounted price tag which is more than $11 Million dollars.The buyer is none other than Doctor Sanjay Gandhi who hails from north suburban area and he also happens be an active real estate investor locally.This move by all state comes exactly two years post purchasing this same ten storey tall structure back then when they paid whopping sum amounting close too nearly thirty millions dollars during January month way back during year twenty twenty-two.All state initially had intentions either consolidating existing downtown based offices or probably using entire space meant exclusively towards establishing brand new global head quarters.However things took different turn with them deciding upon selling it away eventually.Company was simultaneously preparing themselves up while getting ready putting forth plan into action where-in they were about put up massive corporate campus sprawling across huge area measuring around two hundred thirty-two acres located within Northern Suburbs region which could fetch them handsome sum amounting close too nearly Two Hundred Thirty-Two Millions Dollars.Colliers’ Alissa Adler along with John Homsher are currently working on marketing this particular building which is spread across huge area measuring around one hundred thirty-three thousand five hundred eighty square feet for sale exclusively on behalf of Allstate.
