Got a story tip? The CineCares Foundation aims to empower Chicago residents in these communities by creating opportunities for education and employment in the TV and film industry. Monique Scott was sworn into City Council to replace her brother, former Ald. Cinespace Chicago Film Studios specializes in the Development, Management & Operation of Studio Facilities. Cinespace Toronto has 23 production stages across the city, with another 12 stages planned for development on more than 40 acres. I am thrilled to see this acquisition expand our capability for content creation, Lightfoot said. The studio has about 33 sound stages and recently announced it will add up to 19 more soundstages to its campus. TREP plans to expand the work done by the CineCares Foundation, a platform founded by Cinespace in Chicago in partnership with key productions on site to provide job training and education to underserved communities. We also wanted to know or did we? Key developments evolving in sale of Brauer Museum artwork by Valparaiso University, Its Chicagos fake birthday: Here are 30 essential foods and drinks to celebrate, from Rainbow Cone to Malrt, Carol Stream man, 35, dies in custody at Cook County Jail, officials say, Do Not Sell/Share My Personal Information. Media Contact Chicago's then-Mayor Rahm Emanuel announced the job creation and his appreciation for Cinespace at a news conference on Sept. 1, 2015. 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. Cinespace, the studio that is home to Chicago-based film and TV productions including Chicago Fire, has been sold to the real estate arm of TPG, a buyout firm based in Texas and California, the two companies announced Friday. 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. Lightyears will premiere exclusively on Amazon Prime Video. Subscribe for full access to The Hollywood Reporter. Subscribe to Block Club Chicago,an independent, 501(c)(3), journalist-run newsroom. Federal authorities made secret recordings at Cinespace Chicago Film Studios as part of an investigation into a Teamsters union boss who last month was charged with extorting the business, the . Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . They were among the real pioneers in building something special in our city - they have helped me champion the local industry and attract new jobs and investments here. A judge ordered Steven Montano, 18, to be held without bail at a Friday hearing as he faces a murder charge in the slaying of officer Andrs Mauricio Vsquez Lasso. The program has provided training to local youth and young adults, giving its apprentices the opportunity to work on Cinespace Chicago campus productions. To learn more, please refer to the cookie policy. The Chicago studio opened in 2010. New production scheduled to film at Cinespace Chicago Film Studios this spring includeLightyears,61stStreet,Power Book IV: Force, and Paper Girls. The deal, valued at $1 billion according to Crains Chicago Business, means the Pissios family of Chicago will no longer control the studio space they founded in 2011 with the aid of millions of dollars in state grants. Detectives were questioning a person who was inside the home at the time. CHICAGO (CBS) --Ald. Cinespace Chicago specializes in . TPG was founded in 1992 and now has approximately $108 billion of assets under management with investment and operational teams in 12 offices around the world. ft. of what use to be the old Ryerson Steel Company. Chicago currently has one other soundstage facility, Chicago Studio City, which is considerably smaller. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. 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. Friday April 20 2018. I am thrilled to see this acquisition expand out capability for content creation and look forward to the jobs and productions it will bring to our region.. Having Chicago as acritical link to providing not only quality entertainment, but also good-paying jobs in our community makes all the extra effort to help production companies keep filming worth it.. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visit ChicagoFilmStudios.com or CineCaresFoundation.org. 24th Ward candidates headed to April runoff. 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. Cinespace Chicago Film Studios - DePaul University Sep 2021 - Mar 2022 7 months. person to lead the city, failed to advance to a runoff, earning just 17 . 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 [] //]]> When Hollywood comes to Chicago to film, they do it Chicago style. The Cinespace brand is recognized around the world for the productions filmed on its premises by the most renowned content creation companies. The studio was acquired by TPG Real Estate in a deal announced Friday. On a personal note, the Chicago film community, the recipients of the CineCares Foundation, the Pilsen neighborhood, and the City of Chicago, owe a huge debt of gratitude to Uncle Nick Mirkopolous, Alex Pissios, and the entire Mirkopolous family for having the foresight, determination, talent, expertise, faith, and vision to raise up the Chicago film industry when others have tried and failed. Watch. "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. Chicago Fire, Chicago P.D. and Chicago Med have been the longest tenants at Cinespace, which has over 2 million square feet of space and is located on the campus of the old Ryerson Steel Company on the citys West Side. Your fullest creative potential. The series of film studio facilities occupy over 1 million square feet of studio, office and support space on over 40 acres of land. Cinespace Chicago specializes in the development, management and operation of studio facilities. Illinois Governor JB Pritzker commented: Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry. Consumer appetite for original content is a growing secular trend that 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, said Avi Banyasz, Partner and Co-Head of TPG Real Estate. Much Shelist P.C. Sign up for our free elert here. What to watch. A federal appeals panel has ruled an Illinois state agency didn't violate . Cinespace Chicago has 33 stages, with an additional 15 stages to be developed or converted on more than 60 acres. As production begin to ramp back up the studio continues to strictly follow health and safetybest practices from the CDC andIllinois Guidance. 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. Power Book IV: Force, the third spin-off of the popular StarzPower series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. The statement also includes praise from Mayor Lori Lightfoot and Gov. 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. #mc_embed_signup{background:#fff; clear:left;width:100%;font-weight:normal;}, Beyond Chicago from the Air with Geoffrey Baer, The Great Chicago Fire: A Chicago Stories Special, Surviving R.Kelly: Final Installment Examines Trial and More Details, Chicago Film Critics Break Down Sight and Sounds New Greatest Films of All Time List, Actor and Director Isaiah Washington Brings New Film to Chicago, Starstruck Memories from Chicago International Film Festival Founder, New Chicago-Set Film Highlights Citys Street Art Scene, After Unexpected Death of Her Husband, Naperville Woman Plans to Finish His Documentary, Venus and Jupiter Will Be Side by Side in Wednesdays Night Sky. The soundstages for Dick Wolf's 'Chicago Fire' and Netflix's 'Umbrella Academy' have been picked up by the real estate investor amid a streaming content boom. Community has always been core to who we are at Cinespace, and I am deeply proud of the employment and education opportunities weve created, said Alex Pissios, president and CEO of Cinespace Chicago. News about the Studio and Production Facility Industry | Cinespace News and industry updates about Cinespace, as well as the entire industry devoted to filming locations, production facilities, and studio space. The Midwest's production hot spot and second-largest film studio outside of Los Angeles in North America, recently added another 105,000 square foot industrial . Monique Scott, 51, said she is preparing to fight for the neighborhood she was raised in. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespaces operations in Chicago and Toronto. 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, continued Jacob Muller, Managing Director at TREP. Cinespace Chicago Film Studios welcomes several new productions to its growing campus. The acquisition of Cinespace comes as the streaming content boom has Wall Street and hedge funds eyeing studio campuses for acquisition. For 10 years, the majority of TV and movie projects in Chicago have been filmed at Cinespace Chicago Film Studios, the soundstage complex in North Lawndale. Executive producer Michael B. Jordan (Black Panther) is already shooting the AMC drama series61stStreet at Cinespace Chicago Film Studios. Cinespace Chicago Entertainment | Film/Movies. The results of that poll, in a word: Oof. Website. 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. Heres How to See the Dazzling Duo, Vallas and Johnson Headed to Chicago Mayoral Runoff, Lightfoot Denied Second Term, Indicted Ald. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. 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. 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. Keep up to date with our latest industry news, from across the world. On Tuesday, Mayor Lori Lightfoot of Chicago, the first Black woman and first openly L.G.B.T.Q. Every dime we make fundsreportingfrom Chicagos neighborhoods. Follow Your Favorite Chicago's Afternoon News Personalities on Twitter:Follow @SteveBertrand Follow @kpowell720 Follow @maryvandeveldeFollow @LaurenLapka Contact Heather Cherone:@HeatherCherone| (773) 569-1863 |[emailprotected]. ft. of what use to be the old Ryerson Steel Company. Mayor Lori Lightfoot said in a statement she was thrilled Cinespaces new owners plan to expand its workforce. newsletter here. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. Egan and Gee are accomplished executives who have significant experience building and scaling businesses. Terms of the deal, and the purchase price, were not mentioned in the release. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. This website uses cookies or other identifiers, which are necessary for its functioning. window.__mirage2 = {petok:"GL3.c8oBr.U4p6a6d_QPYkkKQ28t0k7.ps5ff2XyKPQ-1800-0"}; Sign up for our Eat. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. The productions will bring more than 200 300 new jobs per show to the campus and play a vital role in resurrecting the television and film industry in Chicago. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. In addition to film production, the campus is home to Stage 18 Chicago, a 501(c) 3 organization and incubator established to retain and grow talent in Chicago. It's how we act that makes a difference: we offer education and training to engage, support and contribute to our communities. They've carefully guarded their secret, but when a mysterious young man enters their lives, the couples' quiet existence is quickly upended. Stay on top of the latest advertising, film, TV, entertainment and production news. 415-743-1550, Internet Explorer presents a security risk. Pissios went on to be president of Cinespace Chicago Film Studios, the post he held when federal prosecutors accused him of failing to disclose all of his assets in his bankruptcy and got him to . 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. 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. Today's news is good news for Cinespace Studios, our city, and our thriving film sector. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. 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. 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. 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.. Keith Gee, of LifeStorage, will become another co-managing partner and CFO. CineCares creates pathways into the film industry for young people on the South and West Sides through job training, education and internships at Cinespace. This timely and provocative drama is set against the systemic abuse that exists in some of our country's most vulnerable communities. The company launched in Toronto in 1988 and today operates 23 production stages across the city, with another 12 stages planned for development on more than 40 acres. About Us Locations CineCares News Contact Cinespace Chicago Cinespace Toronto Studio Babelsberg Cinespace We're the perfect partner for your next production. Eastdil Secured provided financing advisory to TREP for the transaction. Mayor Lori Lightfoot commended the investment for the jobs and productions it will bring to the city. Zach Long. Williamson is a native Chicagoan and rose through the ranks of commercial, non-scripted and scripted TV production starting as a production assistant. All Rights Reserved. I am thrilled to see this acquisition expand our capability for content creation and look forward to the jobs and productions it will bring to our region. It was a stunning rebuke. Cinespace Chicago Film Studios shoots shows like "Chicago Fire" and "The Chi" at its North Lawndale campus at 2621 W. 15th Place. Illinois has a 30% tax credit that. 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. 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. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. The film operation at The Fields would be a smaller version of the Cinespace Chicago Film Studios campus on the West Side, where TV shows and movies are filmed and produced. 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. A press release from TPG says former Netflix executive Eoin Egan will take over as a co-managing partner and COO. In true business news nerd fashion, I wanted to find a Valentine's Day angle . J.B. Pritzker. Egan most recently served as Head of Production Services at Netflix, and Gee as the CEO of Strive and CFO and President of LifeStorage, two former TREP portfolio companies. Thank you Alex for being the best ambassador this film community could ask for. Reporting to Eoin Egan, COO and Co-Managing Partner, she will be responsible for . Returning series filming at the Chicago campus include Chicago Fire, Season 9; Chicago P.D., Season 8; Chicago Med, Season 6; and The Chi, Season 4; South Side, Season 2; and The Big Leap. Were really happy to have the industry back in action on our campus, said Alex Pissios, president and CEO of Cinespace Chicago Film Studios. Learn More Cinespace Toronto NORTH LAWNDALE The film studio where Chicago Fire, Chicago PD, Chicago Med and The Chi are filmed is being sold for $1.1 billion and will stay in Chicago, according to published reports. Pat Quinns administration in 2016, Cinespace sought a $15 million state grant to buy real estate to expand its footprint, later reducing the request to $10 million. CineCares is how we support, promote, and engage local communities. Do. 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Terms of the deal were not disclosed, but its understood from a source close to the transaction that the real estate equity investment arm of asset firm TPG paid around $1.1 billion for Cinespace Studios in Chicago and Cinespace Toronto. I am thrilled to see this acquisition expand our capability for content creation and look forward to the jobs and production it will bring to our region.. A TPG official, Keith Gee, will be chief financial officer and the other co-managing partner. 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. After a Covid-19 hiatus, Chicago's film industry is back up and running, with local film studio Cinespace Chicago adding more than 100,000 square feet of production space to keep up with demand. . New programs scheduled to film at Cinespace Chicago Film Studios this spring include Lightyears, 61st Street, Power Book IV: Force, and Paper Girls. The deal also involves studio space owned by Cinespace in Toronto. Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry, Gov. In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . 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. Cinespace Studios Sold for $1.1B to TPG Real Estate. Consumer appetite for original content is a growing secular tend that 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, TPG co-head of Real Estate Avi Banyasz said in the statement. 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. Chicago is not trying to be Hollywood. 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. I want to thank TPG for their commitment and investment in Toronto and the future of Cinespace. The studio recently announced it will add up to 19 more soundstages to its campus, about 50 percent more than the studio already has. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. Our Locations Cinespace Chicago Your preeminent production platform with 36 active stages across its 1.6 million square foot two campuses, located within 15 minutes of downtown. Force will follow Tommy Egan (Joseph Sikora) as he turns his back on New York and heads to Los Angeles through Chicago to take on the Irish mob. This website uses cookies or other identifiers, which are necessary for its functioning. Chicago is an entity of its own. Clickhereto support Block Clubwith atax-deductible donation. At the Intersection of advertising, TV, film and production. Forcewill follow Tommy Egan (Joseph Sikora) as he turns his back on New York and heads to Los Angeles through Chicago to take on the Irish mob. TPGs investment will expand these efforts and provide more jobs for Illinois.. CHICAGO, April 21, 2021 (GLOBE NEWSWIRE) -- The film industry in Chicago is back up and rolling! 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. Skip to content About Us Locations CinecaresNews Contact Log In Cinespace Chicago Cinespace Toronto To ensure the most secure and best overall experience on our website, we recommend the latest versions of. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . For more information or to contract studio or business space at Cinespace, visit the website at ChicagoFilmStudios.com. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Terms of the transaction were not disclosed. The largest provider of sound stages and production support in the region, at 1.4 million square feet - with a total of 29 stages over three major campuses, including purpose built stages with 45 clear heights. 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. According to the news release, TPG . how interested you are in the Fire, whose season begins Saturday against New York City FC at Soldier Field. Eoin Egan, who formerly worked as head ofproductionservices at Netflix, will be named Cinespaces new COO, according to Deadline. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. Poles needs to make sure Eberflus maintains significant input. DOWNLOAD THE FOX 32 NEWS APP. Since opening in 2011, Cinespace has helped bring more than 15,000 new jobs to the area. 2621 West 15th Place Chicago, Illinois 60608 Recent News About Cinespace Chicago Appeals panel turns out lights on Chicago film studio's antitrust suit vs IL Film Office By Scott Holland | Friday, Oct 18, 2019 @ 12:27pm. 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. As part of Cinespace's commitment to the neighborhood, the family established CineCares Foundation to train and employ area residents through education and job training in TV & Film. 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.

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