CPS headquarters moving to smaller offices to save money

Chicago Public Schools Headquarters will be moving to smaller offices next year in a cost cutting move.

The move comes months after the district closed a record number of schools.

CPS has been based at 125 S. Clark since buying the building from Com Ed in 19-98.

After years of staff reductions, the central office has about 1200 employees, barely half the capacity of the Clark location.

CPS has leased three floors of One N. Dearborn for 15 years.  The rent will be about one third of the cost of the current building, saving about 60 million dollars over the life of the lease.

The State Street side of the new building houses Sears’ loop store.  The CPS move raises questions about the store’s future, but Sears hasn’t said anything about closing that location.

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