Both sides have said they've arrived at an outline to resolve their contract dispute, which came down to two main sticking points: a new teacher evaluation system and union demands that laid-off teachers get preference for new jobs.
The Chicago Sun-Times says Saturday's talks are taking place at the offices of union attorney Robert Bloch.
Going into the talks, Bloch said there was still a lot of work to be done though agreement has been reached on the most contentious issues.
The union hopes to present the wording Sunday to its House of Delegates for review.
(Copyright 2012 by The Associated Press. All Rights Reserved.)