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A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. He has the pedigree, too: his grandfather Bob was a left tackle and offensive captain on Packers teams that won five NFL championships from 1961-67. Cinespace Chicago Film Studios Being Sold For $1 Billion Austin, Garfield Park, North Lawndale Cinespace Chicago Film Studios Being Sold For $1 Billion The film studio's sale is expected to accelerate the growth of Chicago's film industry and bring more production jobs to the area, new owners said. Consumer appetite for original content has accelerated through the pandemic, leading to a dramatic increase in the demand to produce new films and television and in turn, a surge in the need for studio space, Bantasz said. Carrie Austin Resigns from City Council After 29 Years in Office, Why Will County Residents Are Fighting a Major Logistics Hub and Why Backers Say Its Needed, Control of Chicago City Council Up for Grabs as Aldermanic Runoffs Loom. Jones Lang Lasalle served as financial advisor to TREP. They have been the source of incredible Canadian content and a steady job creator for the City and Province. According to the news release, TPG . Zach Long. Stay on top of the latest film, TV, advertising, entertainment and production news! Community has always been core to who we are at Cinespace, and I am deeply proud of the employment and education opportunities weve created. The Midwests production hot spot and second-largest film studio outside of Los Angeles in North America, recently added another 105,000 square foot industrial building near its main campus to expand its footprint and bring more stages online for the busy content creation industry. Got a story tip? Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. TPG is bringing in its own team. Netflix launching a production hub in Toronto by locking up eight soundstages four each at Pinewood Toronto Studios and Cinespace Film Studios in turn sparked a local space race by Hollywood streaming giants scrambling for soundstages on which to create new high-quality film and TV content. Masking, social distancing, and capacity limits in public and workplaces continue to be enforced at Cinespace Chicago Film Studios for the health and safety of staff and all production workers. Clickhereto support Block Clubwith atax-deductible donation. I cringe when I hear our town referred to as Hollywood in Chicago. TPG is bullish on the Chicago film scene as well. 24th Ward candidates headed to April runoff. J.B. Pritzker said in the TPG statement. Subscribe for full access to The Hollywood Reporter. Skip to content About Us Locations CinecaresNews Contact Log In Cinespace Chicago Cinespace Toronto Thank you Alex for being the best ambassador this film community could ask for. Cinespace Chicago Film Studios shoots shows like "Chicago Fire" and "The Chi" at its North Lawndale campus at 2621 W. 15th Place. Cinespace Chicago has 33 stages, with an additional 15 stages to be developed or converted on more than 60 acres. TPGs purchase of Cinespace is not an outlier, but part of a larger trend, thanks to a nationwide shortage of available stage space due to the onslaught of projects demanded by streaming services. 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For more information or to contract studio or business space at Cinespace, visit the website at ChicagoFilmStudios.com. The city's (non) voters are not a monolith but crowded races and low awareness could be keeping them home, voting organizers say. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. Watch. The Toronto studio launched in 1988. Cinespace Chicago Film Studios has been home to NBC's Chicago Fire, Chicago Med and Chicago P.D. Apartamentos.com cuenta con recorridos en 3D, videos en alta definicin, reseas y mucha ms informacin verificada que el resto de las pginas de alquileres. Contact Heather Cherone:@HeatherCherone| (773) 569-1863 |[emailprotected]. Based on the comic book series by Brian K. Vaughan, Paper Girls is an Amazon series created by two studios, Legendary Television and Plan B, and written by Stephany Folsom, who previously worked on Toy Story 4 and Thor: Ragnarok. As The Hollywood Reporter noted in August: The studio lot industry is riding high on private equity money as investors bet that the busy facilities boosted by streaming projects will offer better returns than office towers.. I look forward to partnering with TPG to continue growing this critical industry and seeing what Illinois talent and infrastructure inspires in creatives across our state., Chicago Mayor Lori E. Lightfoot continued: "Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. SAN FRANCISCO & FORT WORTH, Texas--(BUSINESS WIRE)--TPG Real Estate Partners ("TREP"), the dedicated real estate equity investment platform of alternative asset firm TPG, today announced that it has acquired Cinespace Studios in Chicago and Toronto (Cinespace). Executive producer Michael B. Jordan (Black Panther) is already shooting the AMC drama series61stStreet at Cinespace Chicago Film Studios. Follow our newsletter to keep up with new offerings and opportunities at Cinespace - and key developments across our entire industry. Expanding the states capacity for television and media production will create opportunities for countless Illinoisans including the job training and apprenticeship programs that have been hallmarks of Cinespaces efforts in Illinois. Sign up for our morning newsletter to get all of our stories delivered to your mailbox each weekday. Cinespace Chicago Film Studios welcomes several new productions to its growing campus. Separately, plans were announced in May for a $60 million soundstage project on the South Side spearheaded by film producer Derek Dudley and Loop Capital Chairman and CEO James Reynolds Jr. That studio, if it comes to fruition, will be called Regal Mile Studios and be located in the vicinity of South Stony Island Boulevard, East 77th Street and South Chicago Avenue. Crains Chicago Business reported the sale price as $1.1 billion. According to the news release, TPG plans to expand upon the program, but did not provide further details. The acquisition of Cinespace comes as the streaming content boom has Wall Street and hedge funds eyeing studio campuses for acquisition. Cinespace furthers their vision to build a premier global production platform Reel Chicago News Cinespace Studios announced a series of key leadership changes at Studio Babelsberg, a leading German film studio majority owned by Cinespace. Despite his legal woes and the attention from Colis indictment, Pissios has remained a player in Chicago real estate. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. Skip to content Reel Chicago News At the Intersection of advertising, TV, film and production REEL PRO Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry, Gov. One of the most storied studio complexes in the world, offering 21 sound stages rich in history, with vast production facilities and second-to-none production services that have been utilized by legendary filmmakers. For more information, visit www.tpg.com. We are thrilled to have the opportunity to expand on their vision by building a best-in-class studio platform that serves the creator community and drives job growth in Toronto, Chicago, and beyond, said Jacob Muller, managing director at TPG Real Estate Partners. . With 42 sound stages on its 2.2 million square foot main campus in Chicago's North Lawndale neighborhood and additional studios at 31st and Kedzie, Cinespace is the largest film studio outside of California. At the Intersection of advertising, TV, film and production. TPGs investment will expand these efforts and provide more jobs for Illinois.. Chicago, Illinois, United States . The companys Booth Avenue Studios hosted shoots for Guillermo del Toros The Strain, Heroes: Reborn, Rupture and Between. Mayor Lori Lightfoot commended the investment for the jobs and productions it will bring to the city. Lightyears will premiere exclusively on Amazon Prime Video. Cinespace Studios, which helped spark a boom in movie and television production in Chicago, has been sold to a private equity firm that tapped a former Netflix executive to lead the operation on Chicago's West Side. Sign up for our free elert here. Cinespace Chicago Film Studios' sprawling 60-acre campus is located on the West Side, with the main studios at 2621 W. 15th Place in North [] To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Cinespaces flagship studio campus on Kipling Avenue in Toronto has played host to shoots for Reign, Beauty and the Beast, Goon: Last of the Enforcers and 12 Monkeys. Mayor Lori Lightfoot added, Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes. Our clients create groundbreaking films and television. The CineCare's Foundation Mirkopoulos Internship Program partners with FOX, HBO, NBCUniversal, Wolf Films, and Studio Mechanics Union Local 476. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. Were expanding beyond our workforce development program in Chicago to Toronto so stay in touch for updates. J.B. Pritzker. Monique Scott, 51, said she is preparing to fight for the neighborhood she was raised in. Outlets including Crains Chicago Business and Deadline.com are reporting a sale price of $1 billion. Key tenants at Cinespace include 312 Fast Draw, AbelCine, Cinelease, DePaul FilmSchool, Keslow Camera, Lagunitas, and Periscope Post & Audio. The Chicago-based chain, which also has locations in Milwaukee, Minneapolis and Dallas, opened the Wicker Park location in 2017. Cinespace Toronto VP Jim Mirkopoulos added, The family is incredibly proud of our track record catalyzing economic activity and jobs in Ontario and Illinois, inspiring countless York University and DePaul University film students, and providing the best possible spaces and services to our clients, including for many award-winning projects. Upon taking office, Quinns Republican successor Bruce Rauner, demanded Cinespace return the grant money following a Chicago Sun-Times investigation that showed that the parcels Cinespace had intended to buy were not for sale. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visitChicagoFilmStudios.com orCineCaresFoundation.org. Keep up to date with our latest industry news, from across the world. Cinespace in North Lawndale has hosted filming for TV shows like Empire and Chicago Fire for the past few years, but the Southwest Side complex will start to look . The two are not related. Poles needs to make sure Eberflus maintains significant input. Based on the comic book series by Brian K. Vaughan,Paper Girls is an Amazon series created by two studios, Legendary Television and Plan B, and written by Stephany Folsom, who previously worked onToy Story 4andThor: Ragnarok. General Inquiries 773.521.8000 studioinfo@cinespace.com As a Cinespace executive, Pissios also wore a wire on former Teamsters boss John Coli Sr., who pleaded guilty to extorting more than $300,000 from the company to maintain labor peace at the studio. When current Illinois Film Office director Peter Hawley was appointed two years ago, he talked about the need for more soundstage space. They will find no better place in Canada to do business and we are excited and confident in the future of Cinespace., Toronto Mayor John Tory added: "Toronto continues to be a leader in film and TV and that has been made possible through investments from leading companies who see the value and potential in our city and our residents. Information. In TPG, weve found a partner who loves our great city of Toronto, respects Cinespaces heritage and tradition of philanthropy, and has the expertise and resources to help lead the company into its next phase of growth, said Steve Mirkopoulos, president and CEO of Cinespace Toronto. The comic book series will bring a lot of excitement to the small screen exploring everything from time travel between different centuries, future versions of characters, and the question of whether or not the past can or should be changed by time travelers. ft. of what use to be the old Ryerson Steel Company. Studio Babelsberg Honored as Treasure of European Film Culture, Cinespace to Expand Production Infrastructure in Port Lands to Better Serve Toronto, Hollywoods Streaming Gold Rush Keeps Ontario Soundstages at Full Capacity, Cinespace Studios Announces Updates to Platform Following Annual General Meeting at Studio Babelsberg, Cinespace Names Andy Weltman Co-CEO of Legendary Studio Babelsberg, Illinois Shatters Record for Film Production Revenues at $630 Million in Economic Impact, Chicago Public Servant Michael Scott Jr. to Join Cinespace Studios as Director of Industry and Community Relations, Cinespace and York University Commit $3.12 Million to Motion Media Studio for Students, Illinois Film Production Tax Credit Expanded. Im around for six more months. After that, Alex and the other members of the family owned business will no longer be involved in the operation. Cinespace Chicago specializes in the development, management and operation of studio facilities, now home to the Dick Wolf One Chicago franchise of Chicago Fire, Med and P.D., The Chi, Lightyears,61stStreet,Power Book IV: Force, Paper Girls, South Side, andThe Big Leap. Since opening in 2011, Cinespace has helped bring more than 15,000 new jobs to the area. Website. Cinespaces new owners plan to expand the CineCares Foundation, which offers residents of underserved Chicago neighborhoods job training and education in the television and film industry. "During this pandemic, I think we all had a chance to experience how essential quality shows are to our culture and even to our mental health. This timely and provocative drama is set against the systemic abuse that exists in some of our countrys most vulnerable communities. On Friday TPG Real Estate Partners, the real estate arm of the private equity firm TPG, announced plans to acquire Cinespace, the family-run business where the Dick Wolf shows for NBC film. Chicago has a compelling, beautiful cityscape with so much potential. person to lead the city, failed to advance to a runoff, earning just 17 . Power Book IV: Force, the third spin-off of the popular Starz Power series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. Chicago has always been a major player in film and TV production, but truth be told, this family took it to a whole new level. (Colin Boyle/Block Club Chicago) Voters will decide who of the two contenders will take the 24th Ward's aldermanic seat in the April runoff after Monique L. Scott only secured . Follow Your Favorite Chicago's Afternoon News Personalities on Twitter:Follow @SteveBertrand Follow @kpowell720 Follow @maryvandeveldeFollow @LaurenLapka Keep up to date with our latest industry news, from across the world. Williamson is a native Chicagoan and rose through the ranks of commercial, non-scripted and scripted TV production starting as a production assistant. Cinespace Chicago Film Studios sprawling 60-acre campus is located on the West Side, with the main studios at 2621 W. 15th Place in North Lawndale. Clickhereto support Block Clubwith atax-deductible donation. What you need to live your best life now. Cinespace Chicago Film Studio president Alexander S. "Alex" Pissios at a news conference last February at Cinespace Chicago Film Studio. Cinespace Chicago Film Studios is a family-owned company specializing in the development, management, and operation of studio space and support facilities for the film, television, and digital media production industry. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. Michael Scott Jr. (24th), on June 22, 2022. We have been studying the content creation and production landscape as an investment theme for a few years, and in that time have developed a relationship with the family behind Cinespace. I also want to thank the Mirkopoulos family for founding and building up Cinespace here in our city. Cinespace intends to continue growing its studio base following the transaction. The indie studio operator was founded by the Toronto-based Mirkopoulos family in 1988, and the Chicago campus was launched in 2010. Uncle Nick had the foresight to recognize how important it was for Chicago and the TV industry to have a facility to base a series there. Polling Place: Is Patrick Kane the greatest Blackhawk ever. "Jane has worked on the Cinespace lot for many years in several different roles and understands the needs of a production and the Chicago film and TV community," Egan says in a release. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. Illinois has a 30% tax credit that. window.__mirage2 = {petok:"GL3.c8oBr.U4p6a6d_QPYkkKQ28t0k7.ps5ff2XyKPQ-1800-0"}; Launched in Chicago in 2010 by the Pissios family, Cinespace Chicago operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres near Douglass Park. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . The release does not mention any role for Cinespace President and CEO Alex Pissios, whose run as the head of Cinespaces Chicago operation has seen the company expand into the citys premier studio space and purportedly the largest film campus east of California. Subscribe to Block Club Chicago,an independent, 501(c)(3), journalist-run newsroom. Block Club Chicago is a nonprofit news organization dedicated to delivering reliable, nonpartisan and essential coverage of Chicagos diverse neighborhoods. Sign up for our free elert here. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. newsletter here. The deal also involves studio space owned by Cinespace in Toronto. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. TPG is investing in two of the most stable and sought-after filming jurisdictions in the world, and we are excited to see Cinespaces continued growth and success with TPG.. Friday April 20 2018. All Rights Reserved. Pascal Sabino 1:39 PM CST on Nov 12, 2021 In 2019, film and television productions generated $560 million in revenue and created more than 15,000 jobs in Illinois, before operations screeched to a halt during the COVID-19 pandemic. Masking, social distancing, and capacity limits in public and workplaces continue to be enforced at Cinespace Chicago Film Studios for the health and safety of staff and all production workers. Mirkopoulos and Pissios, with help from Coli and Teamsters lobbyists, were able to secure millions in state funds to acquire the 60-acre site of the former Ryerson Steel and convert it into studio space. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . Keith Gee, of LifeStorage, will become another co-managing partner and CFO. TPGs investment will expand these efforts and provide more jobs for Illinois, one of the many reasons why we feel they are the right fit to take on the business, continued Alex Pissios, President and CEO of Cinespace Chicago. New programs scheduled to film at Cinespace Chicago Film Studios this spring include Lightyears, 61st Street, Power Book IV: Force, and Paper Girls. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. Block Club Chicago is a nonprofit news organization dedicated to . Your preeminent production platform with 36 active stages across its 1.6 million square foot two campuses, located within 15 minutes of downtown. Subscribe:Sign up for our FREE e-lert here. Terms of the deal, and the purchase price, were not mentioned in the release. Chicago is not trying to be Hollywood. This website uses cookies or other identifiers, which are necessary for its functioning. Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. (StockSnap / Pixabay). Cinespace Chicago Film Studios, the second-largest film studio outside of Los Angeles in North America, is pleased to welcome several new productions to its growing campus as the Studios continue to strictly follow health and safety best practices from the CDC and Illinois Guidance.

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