Morningstar plans Thompson Center headquarters and $5 million for Chicago nonprofits

Morningstar plans to keep its global headquarters in Chicago with a move to the Thompson Center in late 2028. The financial services company said it will occupy 275,000 square feet in the downtown building, where Google is also developing its Chicago headquarters.

The company will relocate from 22 W. Washington St. and has more than 1,500 employees in Chicago, according to its announcement. Morningstar was founded in the city more than four decades ago. CEO Kunal Kapoor described the decision as a reflection of the company's confidence in Chicago and its long-term future here.

Alongside the office move, Morningstar announced a $5 million commitment to Chicago nonprofits over five years, beginning in 2027. Of that total, $1 million will go to the Commercial Club Foundation to support a multiyear initiative focused on Chicago's economic future.

The other $4 million will support nonprofit grants through the new Morningstar Commitment to Chicago Fund. That funding will focus on helping Chicagoland residents strengthen their financial futures and develop career skills, giving the announcement a reach beyond the company's downtown offices.

The headquarters move adds another major employer to the Thompson Center's next chapter. Google plans to employ 2,000 people at the former state government office building, which opened in 1985. Mayor Brandon Johnson welcomed Morningstar's decision as a sign of continued investment in the central business district and the LaSalle Street corridor, while highlighting the potential neighborhood benefits of the nonprofit funding.

Construction on the Thompson Center renovation began in 2024. The $280 million project is now expected to open in 2028, according to Google officials. Plans shown in new renderings include restoration of the atrium's original glass elevator wall and elevator cabs, as well as a 30-foot outdoor sculpture by artist Sanford Biggers. For Chicago residents, the project pairs the reuse of a prominent downtown building with a new commitment to financial and career opportunities through local nonprofits.