Kanye West is Moving to Chicago

Kanye West is moving to Chicago ... but that doesn't mean he's abandoning L.A.

Kanye made the announcement Monday at a Windy City event with Chance the Rapper, saying, "I gotta let y'all know that I'm moving back to Chicago and I'm never leaving again."

We know a thing or two about the latest development, and it has nothing to do with Kanye fleeing Los Angeles, where he lives with Kim Kardashian West and their 3 kids.

Sources close to Kanye say he and Kim have already found a home in Chi-Town and that's where we know he wants to establish his permanent residence, but they are keeping all of their properties in L.A.

In addition to the house they just built, they have multiple properties in L.A., including 300 acres that Kanye is developing, and that project is still a go.

We're told Kanye will move his Yeezy offices from Calabasas to Chicago.

It's a little confusing, but we're told Kanye views it this way ... that he will have a home base in Chicago, but apparently he believes he can have more than one home base.