Morningstar Will Move Its Global Headquarters to Google's Redeveloped Thompson Center in the Loop
Morningstar will move its global headquarters from 22 W. Washington St. to the redeveloped Thompson Center in Chicago's Loop, taking more than 275,000 square feet in the former state government building. The company said the move is expected in late 2028.
The relocation keeps Morningstar's Chicago operations in the Loop and makes the company the second major corporate tenant announced for the Thompson Center, where Google is redeveloping the building it bought in 2022 for $105 million.
Morningstar employs more than 1,500 people in the Loop. Its current headquarters sits across from the Daley Center.
"As long-term investors, we believe in backing people and communities with enduring potential," Morningstar CEO Kunal Kapoor said. "Our new headquarters and community commitment reflect our confidence in Chicago, our people, and the opportunities ahead."
The company is pairing the move with a $5 million, five-year commitment to Chicago beginning in 2027. Morningstar will give $1 million to the Commercial Club Foundation to support a multi-year economic growth plan. The remaining $4 million will fund grants to Chicago nonprofits focused on helping residents build pathways into financial services, technology and related careers.
Mayor Brandon Johnson said the move reinforces confidence in the central business district and the LaSalle Street corridor.
"Morningstar's decision to relocate its global headquarters to the Thompson Center reaffirms its longstanding commitment to our city and its continued confidence in our central business district and the future of the LaSalle Street corridor," Johnson said in a release.
Google announced plans in 2022 to buy the Thompson Center as part of its expansion in Chicago. The company recently released new renderings of the building's interior, showing a design meant to draw downtown workers into the atrium to meet, work and spend time.
Morningstar was founded in Chicago by businessman and philanthropist Joe Mansueto in 1984 with an initial investment of $80,000. The company went public in 2005. Mansueto stepped down as CEO in 2017 but has remained a major investor in Chicago. He owns the Chicago Fire, which is building a new South Loop stadium, and purchased the Wrigley Building in 2018. The University of Chicago's Mansueto Library is named for Mansueto and his wife, Rika, following their $25 million gift to the university.
The Thompson Center move gives Morningstar a new address in a downtown building Google has been converting since its 2022 purchase.
Morningstar employs roughly 11,000 people worldwide. The company's move will bring its Chicago workforce into a building that Google is redesigning around shared space and public activity.
The Thompson Center sits at 100 W. Randolph St., just west of the Loop's central business district. Its location places Morningstar near City Hall, the Chicago Board of Trade and the city's main transit hubs.
