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Allstate Sells Chicago Office Building at Steep Discount
Allstate has sold the 10-story office building at 29 N. Wacker Drive for more than $11 million to a north suburban physician and local real estate investor, reported Crain’s.
The Northbrook-based insurance giant sold the property to Dr. Sanjay Gandhi in a move that comes after Allstate purchased the 10-story building for $29.7 million in January 2022.
The company had potential plans to either consolidate existing downtown offices or use the space for its new global headquarters. At the time, Allstate was also preparing to sell its 232-acre corporate campus in the northern suburbs for $232 million.
Colliers’ Alissa Adler and John Homsher marketed the 133,580-square-foot building for sale on behalf of Allstate.
