“Chicago-based investment firm Morningstar announced Wednesday it will move its global headquarters into the James R. Thompson Center, the downtown landmark getting renovated by Google.
“Morningstar’s decision gives another boost to the long-anticipated revival of the former state office building, where Google plans to locate thousands of employees by 2028.
“‘It’s an iconic building and an iconic symbol of Chicago,’ Morningstar CEO Kunal Kapoor said. ‘We are a homegrown company and what better way to announce a decision to keep growing in our city?’
“The firm, which employs more than 1,500 people in the Chicago region, will move in late 2028 from 22 W. Washington St. and occupy 275,000 square feet in the Thompson Center, Kapoor added. Morningstar also plans to donate about $5 million to local nonprofits focused on helping Chicagoland residents enter new careers or improve financial literacy.
“Kapoor said the building’s sleek, high-tech look, its open-office layout and the massive glass walls that flood the interior with sunlight will provide Morningstar workers with a great atmosphere.
“The Helmut Jahn-designed Thompson Center first opened in 1985 as an office building for state employees. Google announced in 2022 that it wanted to take over the property, once threatened with demolition, and transform it into a new regional headquarters.
“Loop property owners, restaurateurs and retailers have said the Thompson Center’s revival could spark additional interest in the Central Loop, bringing back foot traffic, attracting new businesses and helping fill in empty storefronts. Other redevelopment efforts could also get a jolt, including the city’s LaSalle Street Corridor Revitalization, a nearly $1 billion effort to convert obsolete downtown offices into residences and hotels.
“‘Google deserves a lot of the credit for the revival of the West Loop,’ Kapoor said. ‘I think the (new) Thompson Center will also bring back energy to the LaSalle Street corridor.’
“Robert Sevim, president, Chicago Region at Savills, said Morningstar’s decision shows a new ‘urban community’ is being stitched together in the Central Loop, and will eventually draw in more firms. ‘It’s an excellent piece of news and will have meaningful impact,’ he said. ‘The beauty of Google, Morningstar and the Thompson Center is that the ripple effects will be real.’” (Rogal, Chicago Tribune, 9/30/26)
“With architecture firm Jahn/ returning to lead the reimagining of the building, the high-tech renovation will honor the signature design with strategic design improvements that enhance the building as a community destination. New elements include a heightened entry colonnade redesigned to allow a renewed ground floor experience, three levels of covered terraces with more natural light, access to green spaces and biophilic design elements.
“The central opening beneath the 17-story atrium was expanded, constructing a cascading staircase integrated with terraced seating and retail offerings. The atrium and plaza bring a curated mix of quality food, distinctive retail, and space for seasonal events. (Sharp, Urbanize Chicago, 9/23/26)
“Google is wrapping up work on the building’s core and exterior shell and plans to spend 2027 building out office and retail spaces, project executive Joy Park said Wednesday during a rare presentation on the redevelopment.
“‘We brought in our best-in-class thinking around sustainability and design performance to truly rehabilitate the building from the inside out,’ Park said.
“Renovations included replacing every pane of glass on the building’s exterior with a triple-insulated glass system designed to improve energy efficiency. The new glass also allows 100 percent of the sunlight to shine through as opposed to 50 percent previously, Park said.
“The building has also been gutted to make way for new mechanical, electrical and plumbing systems as part of a conversion to an all-electric building. Google is also installing systems to collect rainwater from the roof and newly constructed terraces.
“Renovations have included expanding the building’s ground-floor footprint to create more retail and lobby space, enclosing office floors from the public atrium and installing three outdoor terraces.
“Google is also investing in a new CTA station entrance at Clark and Lake streets. The existing station entrance area will be repurposed, while transit access is maintained during construction.
“All 2,500 of Google’s Chicago employees are slated to relocate to the new facilities.
“Google is also banking on the Thompson Center becoming a catalyst for additional development, with executives pointing to the recent sale of Block 37 and other investment in the area as signs of renewed interest in the Central Loop and leaning into the concept of the ‘Google effect.’” (Mercado, Block Club Chicago, 10/15/26)
The Thompson Center was a Preservation Chicago 7 Most Endangered in 2016, 2018, 2019 and 2020. The preservation advocacy effort was long and challenging, but ultimately proved to be highly worthwhile. The building is being comprehensively modernized and will become a home to Google and Morningstar.
Governor James R. Thompson wanted the State of Illinois Building, later renamed the Thompson Center, to stimulate the Central Loop in the early 1980s. Thanks to a long and successful preservation advocacy campaign, and visionary developers and decision makers 40 years later, the Thompson Center as Google’s Midwest headquarters will again have a huge beneficial impact on the Central Loop.
From “Impossible to Inevitable,” the Thompson Center reuse is a perfect example of the incredible power of preservation to generate economic development.
Read the full story at the Chicago Tribune, Urbanize Chicago and Block Club Chicago
- Morningstar to move global headquarters to the Thompson Center, Brian J. Rogal, Chicago Tribune, 9/30/26
- Morningstar joining Google at Thompson Center; Morningstar is moving its Loop headquarters to the revamped Thompson Center, anchoring the building alongside Google with the largest downtown office lease inked this year, Danny Ecker, Crain’s Chicago Business, 9/30/26
- Google unveils new interior renderings for Thompson Center; The building’s atrium will be reimagined and new public art will be added, Steven Sharp, Urbanize Chicago, 9/23/26
- Google’s New Plans For Thompson Center Include New Sculpture, 17-Story Atrium Revamp; The Loop landmark’s overhaul will include a plaza, artwork by Sanford Biggers, a cascading staircase, terraced seating and retail space, Melody Mercado, Block Club Chicago, 9/16/26
- Google’s Thompson Center Transformation Enters Next Phase As 2028 Opening Nears; The tech giant is wrapping up major structural work and preparing for a year of interior renovations as it gets ready to move 2,500 Chicago employees into the building, Melody Mercado, Block Club Chicago, 10/15/26
- James R. Thompson Center / State of Illinois Building; a Preservation Chicago Chicago 7 Most Endangered