Aon Insurance Cuts Office Space Amid Remote Work Trend

Aon Insurance Cuts Office Space Amid Remote Work Trend

Henryk Nowak
2 min read

Aon to Downsize Suburban Chicago Office Space in Response to Remote Work Trend

Aon, a major insurance company, is making a significant shift in its office space strategy, opting to downsize its suburban Chicago office amidst the growing trend of remote work. The company is set to leave behind its current 600,000 square feet space at 4 Overlook Point in Lincolnshire as its lease is nearing expiration, and instead, occupy just one floor comprising 40,000 square feet at the Bannockburn Corporate Center.

This move not only reflects Aon's adaptive approach to changing work patterns but also highlights the broader organizational shift toward remote work, a movement that has gained momentum in the post-pandemic era. With the current office availability rate in downtown Chicago at approximately 25%, and a staggering 31% vacancy rate in suburban areas, Aon's decision underscores a strategic realignment to effectively navigate the evolving work environment.

Key Takeaways

  • Aon is downsizing its suburban Chicago office space from 600,000 sq ft to 40,000 sq ft, emblematic of the changing work dynamics.
  • The relocation to the Bannockburn Corporate Center signifies the company's intent to align with the remote work trend.
  • The soaring office vacancy rates in both downtown and suburban areas point towards a pervasive impact on commercial real estate.
  • This strategic shift by Aon is indicative of the wider transformation in corporate real estate requirements, emphasizing the need for innovative office solutions.


Aon's initiative to downsize its office space is emblematic of the broader trend towards remote work, signaling a pivotal shift in the real estate landscape particularly impacting suburban areas and commensurate players such as Realty Income. As the business world increasingly embraces remote work, this move not only contributes to an immediate surge in office vacancy rates but also holds the potential to shape long-term corporate real estate strategies, potentially leading to innovative solutions and reduced urban congestion.

Did You Know?

  • Downsizing Office Space:
    • Definition: The strategic reduction of office space by a company, often in response to changing work dynamics, such as remote work adoption or policy amendments.
    • Context in News: Aon's decision to downsize from 600,000 sq ft to 40,000 sq ft in suburban Chicago is a conscious response to the evolving work environment, reflecting the paradigm shift towards more efficient and flexible workspace requirements.
  • Remote Work Shift Post-Pandemic:
    • Definition: The permanent adoption of remote work practices by organizations in response to the changes triggered by the COVID-19 pandemic.
    • Context in News: Aon's downsizing and relocation to a smaller office space at the Bannockburn Corporate Center underscores the industry-wide shift towards remote work, mirroring a larger trend of adapting to a highly flexible and adaptive mode of work.
  • Office Availability Rate:
    • Definition: The percentage of available office space for rent or purchase in a specific real estate market.
    • Context in News: The noteworthy office availability rates, both in downtown Chicago and suburban areas, spotlight the pronounced impact of remote work trends on commercial real estate, emphasizing the need for a comprehensive reevaluation of real estate strategies in adapting to changing work dynamics.

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