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updated: 3/5/2014 4:33 PM

Rolling Meadows expects Gallagher to return to city

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  • Arthur J. Gallagher, a large international insurance company, will move to this building at 2850 W. Golf Road in the Rolling Meadows Corporate Center, Rolling Meadows officials said.

       Arthur J. Gallagher, a large international insurance company, will move to this building at 2850 W. Golf Road in the Rolling Meadows Corporate Center, Rolling Meadows officials said.
    Mark Welsh | Staff Photographer

  • Ground was broken on this 486,000-square-foot Itasca building in 1989 after insurance brokerage Arthur J. Gallagher announced it would move there in 1991 after its 15-year lease in Rolling Meadows expired. The building was named Gallagher Centre.

       Ground was broken on this 486,000-square-foot Itasca building in 1989 after insurance brokerage Arthur J. Gallagher announced it would move there in 1991 after its 15-year lease in Rolling Meadows expired. The building was named Gallagher Centre.
    Bob Chwedyk | Staff Photographer May 1991

  • Arthur J. Gallagher, a large international insurance company, will move to this building at 2850 W. Golf Road in the Rolling Meadows Corporate Center, Rolling Meadows officials said.

       Arthur J. Gallagher, a large international insurance company, will move to this building at 2850 W. Golf Road in the Rolling Meadows Corporate Center, Rolling Meadows officials said.
    Mark Welsh | Staff Photographer

 
 

Arthur J. Gallagher, a large international insurance company, is expected to move back to the Meadows Corporate Center in Rolling Meadows, city officials said.

The company has agreed to purchase 2850 W. Golf Road, one of the two towers in an office complex known as the Gould Center when they were built about 40 years ago, they said.

Gallagher, which has been called the fourth largest commercial insurance broker in the world, rented there for 15 years before moving in 1991 to a new office building in Itasca named Gallagher Centre. Gallagher moved about 500 employees to the 26-story building, which, at just under 400 feet, was the second tallest in the suburbs.

Mayor Tom Rooney told the Rolling Meadows Chamber of Commerce this week that city officials are "fairly confident" the company he called a "pretty big fish" is moving back to the city.

Company officials told city authorities they considered Florida, Indianapolis and other suburbs, Rooney said.

Gallagher spokeswoman Linda Collins said the company had no comment on the mayor's remarks.

City Manager Barry Krumstok said only that the company has purchased the building, and more information would be available at a city council meeting this month.

Arthur Gallagher founded the company in 1927, according to the company's website. His grandson, J. Patrick Gallagher, is chairman. The company hit the $1 billion mark in revenue in 2002, and surpassed $2.5 billion last year. The Ethisphere Institute has called Gallagher one of the World's Most Ethical Companies.

Almost one-quarter of the publicly traded company's revenues are generated outside the country. Its 142 acquisitions between 2010 and 2013 included the four largest in the company's history.

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