Morningstar may move into Chicago's Thompson Center after Google renovations
Investment research firm Morningstar could move into the Thompson Center in downtown Chicago once Google is done renovating the former Illinois state government building.
Crain's Chicago Business and CoStar both reported Thursday that the firm is talking to Google about leasing 300,000 square feet of space. Google started marketing to find tenants last year, according to Crain's.
Morningstar is currently headquartered at 22 W. Washington St. in Block 37 downtown, on the several floors upstairs from CBS Chicago's office and studios.
Crain's reported Morningstar would likely move into the building in 2029.
Google is set to start moving into the Thompson Center next year.
The 17-story Thompson Center at 100 W. Randolph St. opened in 1985 as the home to state government offices in Chicago. From the beginning, the building was criticized as overly expensive and inefficient.
When it opened in 1985, the great massive open atrium inside and its floors of open offices were meant to pay tribute to transparency in government — the inspiration for architect Helmut Jahn — but the building's design made it extremely expensive to operate.
Former Gov. Bruce Rauner announced in 2015 that he planned to ask state lawmakers to ask him to unload the Thompson Center, and there was talk that it could be torn down. A sale ultimately never ended up happening while Rauner was in office, but his successor, Gov. JB Pritzker, finalized the sale of the building in 2022.
Google announced in July 2022 that it would be taking over the building.
The sale agreement allowed building to be preserved, while saving taxpayers $800 million in operating, maintenance, and repair costs, Pritzker's office said at the time.
Redevelopment of the Thompson Center began in May 2024. The old façade was removed, the interior of the upper floors was demolished, and new triple-paned glass windows were installed. After more than a year in place, the tower crane used for work on the Thompson Center was disassembled in February 2026 as the redevelopment entered its final phases.
Google is set to start moving next year into the Thompson Center, which published reports have noted is going to keep its name honoring late former Gov. James R. Thompson.
If Morningstar does move to the Thompson Center, it would likely happen in 2029, when the firm's lease at 22 W. Washington St. expires.
Morningstar was founded in 1984 by entrepreneur Joe Mansueto. The firm has been headquartered in the 22 W. Washington St. building since the building opened in the fall of 2008. WBBM-TV's offices and studios opened in the building at the same time, as the station moved from the historic CBS Chicago broadcast center at 630 N. McClurg Ct. in Streeterville.
In 2022, published reports noted, Morningstar considered moving to the upper floors of the Marshall Field building at 24 E. Washington St., above the Macy's Chicago flagship store. But Morningstar decided not to make this move, and signed a five-year lease extension at 22 W. Washington St. instead, reports noted.
