Morningstar unveiled plans Wednesday to move its global headquarters to the Thompson Center once the iconic building's renovations are complete.
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Morningstar will keep its operations in the Loop and co-anchor the building with Google, occupying more than 275K SF, the company announced in a release. It is the largest downtown office transaction this year to date.
The company plans to move in late 2028.
"Morningstar was founded in Chicago more than four decades ago, and we're proud to continue building our future here," Morningstar CEO Kunal Kapoor said in a statement. "Our new headquarters and community commitment reflect our confidence in Chicago, our people, and the opportunities ahead.”
The investment research firm will move after its lease expires at 22 W. Washington St., Crain's Chicago Business reported. The space, which will house more than 1,500 Morningstar employees in Chicago, is similar in size to its current footprint.
Alongside the relocation, Morningstar also announced that it would donate $5M over the next five years to Chicago nonprofits starting in 2027. That includes $1M to the Commercial Club Foundation and $4M in targeted grants to local nonprofits.
Earlier this month, Google announced that it would delay setting up shop in the Thompson Center until 2028. It had previously targeted an early 2027 move to the redeveloped building.
Google is expected to take at least 600K SF of the 954K SF of renovated space. The tech giant reached an agreement to purchase the redeveloped building for $105M in July 2022.
"Having two great American brands alongside each other represents a bright future for the next generation of Chicago talent, technology, and creativity," Google Chicago Site Lead Mike Miller said in a statement.
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