Wednesday, March 6, 2013

Tribune: CPS may sell downtown headquarters

Considering that CPS is seeking to close some schools, this is an interesting development:
Chicago Public Schools officials are looking at moving out of their downtown headquarters as another way to ease a projected $1 billion budget deficit.

The district has requested bids from real estate brokerage firms to help sell its building and scout for a new headquarters location. CPS says it has cut 30 percent of its staff since 2009 and with a little more than 1,000 employees has too much space at its present location, 125 S. Clark St. in the Loop. Potential savings from a move were estimated at up to $3 million annually.

The district's move to Clark Street was also made to save money. CPS purchased the 20-story building that formerly housed Commonwealth Edison in 1998 for $8.2 million. Before that, its main offices were in a former Army distribution center at 1819 W. Pershing Road. The cost of heating and cooling that massive edifice was $6.2 million a year, leading to the move downtown.

District officials hope to sell the present headquarters. If they are unable to, the building will be leased, said CPS spokeswoman Becky Carroll.
If they were to sell the building, where would they go?

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