The first phase of construction (Phase II) had been contracted to be completed by March 2008. This would enable Morningstar, Inc. to move before its early 2009 lease expiration at its location on 225 W. Wacker Drive. However, financial troubles caused delays that necessitated Morningstar—who had intended to occupy over half of the building—seek lease proposals from other downtown office towers. Morningstar would have suffered holdover penalties and other damages if it were unable to move before its lease expires. Morningstar was hesitant to pursue other opportunities because their lease at 108 North State Street was at a below market price in the low $20s/square foot.