DOWNLOAD THE FOX 32 NEWS APP. Cinespace Chicago Film Studios welcomes several new productions to its growing campus.. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities.. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. Ve el apartamento 3N en alquiler en 1448 S Rockwell St en Chicago, IL desde $1200 y encuentra otros apartamentos disponibles en Chicago. Since its inception in 2009, TREP has built a differentiated investment portfolio comprised primarily of real estate-rich platforms and portfolios located in the United States and Europe. The studio was acquired by TPG Real Estate in a deal announced Friday. Eoin Egan, who formerly worked as head ofproductionservices at Netflix, will be named Cinespaces new COO, according to Deadline. 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 soundstages for Dick Wolf's 'Chicago Fire' and Netflix's 'Umbrella Academy' have been picked up by the real estate investor amid a . From Road to Avonlea to Best Picture Oscar winner Chicago, Pompeii and The Strain, Cinespaces model of large, functional spaces and expert client service continues to make Toronto and Cinespace the premier destination for film and TV production in Canada. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. Pissios cooperation earned him a non-prosecution deal with federal prosecutors on fraud charges tied to his 2011 personal bankruptcy. Egan most recently was head of production services at Netflix, and Gee was the CEO of Strive and CFO and president of LifeStorage, two former TREP portfolio companies. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Contact Heather Cherone:@HeatherCherone| (773) 569-1863 |[emailprotected]. According to the news release, TPG . 19 talking about this. The Cinespace brand is recognized around the world for the productions filmed on its premises by the most renowned content creation companies. 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. Keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. 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.. Sign up for our free elert here. (StockSnap / Pixabay). Mayor Lori Lightfoot said in a statement she was thrilled Cinespaces new owners plan to expand its workforce. They've carefully guarded their secret, but when a mysterious young man enters their lives, the couples' quiet existence is quickly upended. Were expanding beyond our workforce development program in Chicago to Toronto so stay in touch for updates. Eastdil Secured provided financing advisory to TREP for the transaction. You can accept the use of cookies or other identifiers by closing or clicking the accept button. 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. 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. Skip to content Reel Chicago News At the Intersection of advertising, TV, film and production REEL PRO The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. One of the projects launched under Pissios tenure is a pipeline program called CineCares. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. Cinespace Chicago specializes in the development, management and operation of studio facilities. Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. The Studios also announced four new series filming at its facilities as productions begin to ramp back up with additional health and safety protocols. 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. Sign up for THR news straight to your inbox every day. In Chicago, Cinespace Chicago Film Studios virtually rose up out of an abandoned steel mill. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing partners and COO and CFO, respectively. 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. Detectives were questioning a person who was inside the home at the time. Cinespace Chicago Film Studio president Alexander S. "Alex" Pissios at a news conference last February at Cinespace Chicago Film Studio. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. 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. When Hollywood comes to Chicago to film, they do it Chicago style. Today, TREP has $5.3 billion of assets under management. The statement also includes praise from Mayor Lori Lightfoot and Gov. Every dime we make fundsreportingfrom Chicagos neighborhoods. Keep up to date with our latest industry news, from across the world. 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. Forceis set on Chicagos South Side and stars Chicago Northwest Side native Joseph Sikora and also welcomes Anthony Fleming (Prison Break) and Lucien Cambric (Chicago PD) to the show. Keith Gee, of LifeStorage, will become another co-managing partner and CFO. their facilities, and in 2011, Cinespace Chicago Film Studios opened on the 70-acre site of the former Ryerson steel complex. It was a stunning rebuke. On Tuesday, Mayor Lori Lightfoot of Chicago, the first Black woman and first openly L.G.B.T.Q. Lightyearswill premiere exclusively on Amazon Prime Video. The acquisition of Cinespace comes as the streaming content boom has Wall Street and hedge funds eyeing studio campuses for acquisition. Your fullest creative potential. and Cassels Brock & Blackwell LLP served as legal counsel to Cinespace. One of Pissios' deepest passions while CEO of Cinespace was to provide education and job training within the film industry. 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. Cinespace also has a significant presence in Toronto. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Cinespace is the second largest independent sound stage platform in North America with best-in-class studio campuses. Key tenants at Cinespace include 312 Fast Draw, AbelCine, Cinelease, DePaul FilmSchool, Keslow Camera, Lagunitas, and Periscope Post & Audio. 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. Sign up for our free elert here. 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. 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. The deal includes both the Chicago and Toronto locations, which have more than 50 soundstages combined. 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. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as Co-Managing Partners and COO and CFO, respectively. What you need to live your best life now. Cinespace Chicago Entertainment | Film/Movies. According to Crains Chicago Business, TPG, in a statement, has confirmed that its TPG Real Estate Partners unit has made the acquisition. 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. "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. Keep up to date with our latest industry news, from across the world. All Rights Reserved. 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. I want to thank TPG for their commitment and investment in Toronto and the future of Cinespace. 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.. "We're really happy to have the industry back in action on our campus," said Alex Pissios, president and CEO of Cinespace Chicago Film Studios. Illinois offers production companies 30% tax credits on production costs and on salaries up to $100,000 through 2026. #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. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Gov. Force is set on Chicago's South Side and stars Chicago Northwest Side native Joseph Sikora and also welcomes Anthony Fleming (Prison Break) and Lucien Cambric (Chicago PD) to the show. 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 . Sign up for our Eat. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. Last year, he secured $21 million in financing for the first phase of a $76 million project to develop property along Ogden Avenue with the CHA and other partners, a proposal Pissios filed while also negotiating his deal with federal prosecutors. 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. . 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. 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. Cinespace Chicago has 33 stages, with an additional 15 stages to be developed or converted on more than 60 acres. The two are not related. Cinespace Chicago Film Studios specializes in the Development, Management & Operation of Studio Facilities. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . Block Club Chicago is a nonprofit news organization dedicated to delivering reliable, nonpartisan and essential coverage of Chicagos diverse neighborhoods. 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. 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. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Jones Lang Lasalle served as financial advisor to TREP. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. person to lead the city, failed to advance to a runoff, earning just 17 . // The Chicago studio opened in 2010. The city's (non) voters are not a monolith but crowded races and low awareness could be keeping them home, voting organizers say. Every dime we make fundsreportingfrom Chicagos neighborhoods. Do. 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 is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. 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 Chicagos West Side. 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. Chicago has a compelling, beautiful cityscape with so much potential. Cinespace Chicago specializes in the development, management, and operation of studio facilities for the film, television, and digital media production industry. Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry, Gov. Polling Place: Is Patrick Kane the greatest Blackhawk ever. 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). It's how we act that makes a difference: we offer education and training to engage, support and contribute to our communities. 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. 24th Ward candidates headed to April runoff. The acquisition is expected to accelerate the growth of Chicagos thriving film industry and bring more production jobs to the area, said Avi Banyasz, co-head of TPG Real Estate. 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. New programs scheduled to film at Cinespace Chicago Film Studios this spring include Lightyears, 61st Street, Power Book IV: Force, and Paper Girls. Email Newsroom@BlockClubChi.org. Chicago is not trying to be Hollywood. Cinespace intends to grow its employee base at each studio as a result of the transaction. 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.. This website uses cookies or other identifiers, which are necessary for its functioning. 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. Zach Long. ft. of what use to be the old Ryerson Steel Company. 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. CHICAGO, April 21, 2021 (GLOBE NEWSWIRE) -- The film industry in Chicago is back up and rolling! The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. With all precincts reporting, Monique Scott won 45.4 percent of the vote in a crowded field, while challenger Creative Scott had 12.6 percent. 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. The Toronto studio launched in 1988. The pop-up runs Friday through the end of March. . The studio recently announced it will add up to 19 more soundstages to its campus, about 50 percent more than the studio already has. 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. The CineCares Foundation aims to empower Chicago residents in these communities by creating opportunities for education and employment in the TV and film industry. State grants heavily financed Cinespaces expansion into Chicago under Pissios uncle, Nick Mirkopoulos, who founded Cinespace in Toronto in the 1980s.
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