Quinn made that announcement during a visit to an elementary school in south suburban Hazel Crest. The governor said the funding will help improve students' educational experiences.
The money will be split between 31 districts.
"This is a statewide movement to build and repair school buildings," said Quinn. "Six-hundred-and-twenty-three million dollars is being invested in the classrooms and the buildings for these children."
Chicago Public Schools are slated to receive $114 million.
Quinn expects the school construction projects will create 4,000 jobs.