The move has been encouraged by the Daley administration. William M. Daley, brother of the mayor and Joffrey's co-chairman, said, "Having a permanent home in the center of downtown Chicago is truly the next step toward establishing the Joffrey as a major Chicago institution."

The Joffrey is in good financial standing, with a $2.5 million reserve. It is not known how much the company will pay for the space, but it hopes to subsidize the move through fundraising, according to the Chicago Tribune.

The Joffrey's studios are presently housed at 17 N. State St., and its offices are located at 70 E. Lake St.