Prominent local firms reach deal including sale of key Bloomington property

GROWMARK to buy COUNTRY Financial property on Towanda Avenue for its new headquarters
GROWMARK to buy COUNTRY Financial property on Towanda Avenue for its new headquarters(COUNTRY Financial and GROWMARK)
Published: Sep. 28, 2022 at 11:58 PM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

BLOOMINGTON (25 News Now) - Bloomington-based insurance company COUNTRY Financial is selling its Financial Services Building on the Twin-Cities’ east side to agricultural cooperative GROWMARK.

The Financial Services facility at 1705 Towanda Avenue will become GROWMARK’s new headquarters, according to a news release. The sale is expected to be completed later this year.

COUNTRY Financial to sell its Financial Services Building to GROWMARK
COUNTRY Financial to sell its Financial Services Building to GROWMARK(COUNTRY Financial and GROWMARK)

COUNTRY Financial employees currently working in the Financial Services Building will move to other Bloomington offices, including soon-to-be renovated space at the Illinois Farm Bureau building nearby at 1701 Towanda Avenue, known as the IAA Building Campus.

COUNTRY Financial Chief Executive Officer Jim Jacobs noted that his company, GROWMARK, and the Illinois Farm Bureau have worked alongside each other since the early 1900s.

“As we review our desired workplace culture and corresponding space needs in a post COVID-19 world, we’re excited that this transaction will allow us the opportunity to offer an enhanced in-person employee experience by bringing people together to collaborate and learn from each other on the IAA Building Campus,” said Jacobs in a prepared statement.

GROWMARK’s CEO Mark Orr also released a statement.

“GROWMARK remains committed to our relationship with the Illinois Farm Bureau to serve our customers and producers throughout Illinois and beyond. This opportunity with COUNTRY Financial allows us to retain a connection to the current shared campus, while also enhancing our space to provide employees with what they need to do their best work. We look forward to this transition and the benefits it will yield for our customers and employees,” said Orr.

The news release, issued jointly by COUNTRY Financial and GROWMARK, does not reveal the sale price for the Financial Services Building.