Facilities - Real Estate 

Overview

The Real Estate Department is dedicated to managing all property owned, leased and used by CPS. The Department's mission is to be the point of contact for all real estate issues and to ensure that CPS utilizes property in a way that: (1) supports and benefits schools and educational programming; (2) serves the needs of the community; and (3) if possible, generates income for schools. The Department also strives to maximize the use of all real estate assets and minimize property rental expenditures.

Department Description

  • Facilitate license agreements for district's 600+ schools ($3 million in revenue during 2012-2013 school year)
  • Manage telecommunications license agreements ($5.2 million in revenue during 2012-2013 year)
  • Facilitate event agreements for the district
  • Manage 70+ leased facilities
  • Manage CPS headquarters office and satellite administration offices
  • Manage surplus property portfolio

Accomplishments

  • Generated $7 million in revenue through surplus property sales in 2013
  • Reduced headquarters operating costs by over $1 million in 2012-2013
  • Lead team in headquarters office assessment project to relocate to leased site and reduce square footage by 325,000 square feet
  • Negotiated new satellite office lease to reduce costs by $2.2 million over 15-year term
  • Negotiated rent reduction on 7 sites for $75,000 savings in 2013

Links

Temporary Usage Permit

CPS Guide to Renting Property

CPS Property and Lease Information

Page Last Modified on Tuesday, January 05, 2016

Contact information

Facilities - Real Estate
125 South Clark Street
17th Floor
Chicago, Illinois 60603
Phone: (773) 553-2900
Fax: (773) 553-2921