In the tables on this website, the term "CPS Owned" refers to the Chicago Board of Education’s beneficial interest in district property. Under the Illinois School Code, property generally is held by the City of Chicago in Trust for the Board of Education. The exception to this form of ownership applies to a set of properties that were the subject of a lease and a series of quit claim deeds transferring interest from the City of Chicago in Trust for the Board to the Public Building Commission as part of a capital improvement program in the 1990s. As a part of this construction program, the Public Building Commission issued tax-exempt bonds to finance school construction. The leases called for the payment of rent from the Board to the Public Building Commission in the amount of the debt service on the bonds. Upon payment of the bond obligations, the properties listed in the leases and quit claim deeds revert to the City of Chicago in Trust for the Chicago Public Schools.

The following documents are available to provide greater detail regarding this set of transactions:

• List of all properties held in title by the PBC
• Lease Agreement (Series A of 1993) Between the Public Building Commission of Chicago and the Board of Education of the City of Chicago (April 1, 1993) as amended
•    Amendment No. 1
•    Amendment No. 2

Quit Claim Deeds of Conveyance: City of Chicago in Trust for the Board of Education to the Public Building Commission (June 17, 1997)
•    Deed 1    |       Deed 2
• Quit Claim Deed of Conveyance: City of Chicago in Trust for the Board of Education to the Public Building Commission (February 18, 1997)
• Lease Agreement (Series C of 1999) Between the Public Building Commission of Chicago and the Board of Education of the City of Chicago (September 1, 1999) as amended
•    Amendment

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