Chicago & Midwest + Greater Chicagoland + Office | February 27, 2023

Walgreens to Sell Most of Deerfield Headquarters Campus

Walgreens Boots Alliance is putting most of its Deerfield, IL headquarters campus up for sale and consolidating workers into the remaining portion, reported Crain’s Chicago Business. The retailer is joining the crowd of major corporations slashing their office footprints as remote work reshapes their space needs.

The company plans to sell its office properties at 200 and 300 Wilmot Rd. in the northern suburb and combine its workers on the campus into a series of buildings at 100 Wilmot Rd., a Walgreens spokesman told Crain’s. The move will allow the drugstore giant to shed roughly two-thirds of its 40-plus-acre campus along Interstate 294, where it has been based since 1975.

Following in the footsteps of Allstate and Baxter International, both of which sold their headquarters for repurposing as industrial, the Walgreens move could tee up another redevelopment of the property into something entirely different, or perhaps add hundreds of thousands of square feet of available inventory to a suburban office market that already is saddled with a record amount of vacancies.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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