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THE ALLSTATE CORPORATION

(ALL)
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Allstate Reaches Agreement to Sell Northbrook Campus

11/29/2021 | 09:41am EST

The Allstate Corporation (NYSE: ALL) today announced it has reached an agreement to sell the property making up the majority of its campus in Northbrook, Illinois, to Dermody Properties for approximately $232 million. The sale is expected to close in 2022.

Allstate is selling the property as employees have more choice about where they work and many are choosing to work from home. The company plans to keep a significant presence in the Chicago area, including its existing office space in downtown Chicago.

The sale will also reduce real estate expenses and further advance Allstate’s multi-year Transformative Growth initiative to increase personal property-liability market share by building a low-cost insurer with broad distribution.

Allstate moved into the Northbrook site in 1967 and the campus currently includes 2 million square feet of office space. The buildings and land are located at 2675, 2700, 2755, 2775, and 3075 Sanders Road, Northbrook, Illinois.

About Allstate

The Allstate Corporation (NYSE: ALL) protects people from life’s uncertainties with a circle of protection including cars, homes, electronic devices, benefits and identity theft. Products are available through a broad distribution network including Allstate agents, independent agents, major retailers, online and at the workplace. Allstate is widely known for the slogan “You’re in Good Hands with Allstate.”

Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.

Forward-Looking Statements

This news release contains “forward-looking statements” that anticipate results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not relate strictly to historical or current facts and may be identified by their use of words like “plans,” “seeks,” “expects,” “will,” “should,” “anticipates,” “estimates,” “intends,” “believes,” “likely,” “targets” and other words with similar meanings. We believe these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions or plans underlying the forward-looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those communicated in these forward-looking statements. Factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements may be found in our filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” section in our most recent annual report on Form 10-K. Forward-looking statements are as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statement.


ę Business Wire 2021
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Analyst Recommendations on THE ALLSTATE CORPORATION
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Financials (USD)
Sales 2021 42 823 M - -
Net income 2021 1 426 M - -
Net Debt 2021 - - -
P/E ratio 2021 25,0x
Yield 2021 2,51%
Capitalization 34 473 M 34 473 M -
Capi. / Sales 2021 0,81x
Capi. / Sales 2022 0,77x
Nbr of Employees 42 010
Free-Float -
Chart THE ALLSTATE CORPORATION
Duration : Period :
The Allstate Corporation Technical Analysis Chart | ALL | US0200021014 | MarketScreener
Technical analysis trends THE ALLSTATE CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Last Close Price 120,25 $
Average target price 132,07 $
Spread / Average Target 9,83%
EPS Revisions
Managers and Directors
Thomas Joseph Wilson Chairman & Chief Executive Officer
Mario Rizzo Treasurer & Senior Vice President
Judith A. Sprieser Lead Independent Director
Andrea Redmond Independent Director
Kermit R. Crawford Independent Director
Sector and Competitors