Chicago district says downsizing headquarters will save $60 million over 15 years

Chicago Public Schools CEO Barbara Byrd-Bennett says the district will save an estimated $60 million over the next 15 years by moving its headquarters to a smaller location. The district says in a news release that it will lease about 160,000 square feet on three floors at 1 N. Dearborn St. That's about one-third the size of existing headquarters, a building the district owns at 125 S. Clark Street. The district notes that despite the overall downsizing, the school board chambers at the new location are double the size of the current space, so the public will have greater access to meeting and events. The anticipated move-in date is November 2014. Some of the floors at 1 N. Dearborn are occupied by a Sears store.