CPS said the schools lack funds to remain operational.
Never in the history of Chicago has CPS allowed a school to close before the end of the school year.
But both ASPIRA and Chicago Public Schools said the charter network won't have the funds to stay open past April.
Facing a nearly $5 million deficit, leaders from ASPIRA plan to call on the district Friday to help bail them out.
This impacts more than 570 students and dozens of staff, between two high schools on the city's Northwest Side: ASPIRA Business & Finance and ASPIRA Early College High School.
CPS has already given over $2.5 million to the charter school to help sustain operations, and says it reached the legal limit of funding it can provide, under Illinois law.
In a letter sent to CPS earlier this week, ASPIRA said it's pursuing short-term financing and fundraising campaigns to finish the school year.
But CPS said the school has not outlined a clear path forward by providing the required financial documents, like its 2025 audit and payroll records.
Although a mid-year closure is unprecedented for CPS, the district told the ASPIRA board this week it's moving forward with student transitioning.
That will include working with families to find a school that meets their child's needs.
School leaders, parents, students and teachers were planning to speak Friday morning, but the press conference has been postponed.