For more information or to contract studio or business space at Cinespace, visit the website at ChicagoFilmStudios.com. Media Contact 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. 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. Got a story tip? Clickhereto support Block Clubwith atax-deductible donation. The Chicago studio opened in 2010. Contact Heather Cherone:@HeatherCherone| (773) 569-1863 |[emailprotected]. Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. 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. Were expanding beyond our workforce development program in Chicago to Toronto so stay in touch for updates. 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. Detectives were questioning a person who was inside the home at the time. The Cinespace brand is recognized around the world for the productions filmed on its premises by the most renowned content creation companies. window.__mirage2 = {petok:"GL3.c8oBr.U4p6a6d_QPYkkKQ28t0k7.ps5ff2XyKPQ-1800-0"}; 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. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. 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. 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, in a statement. Sign up for our free elert here. The GM and coach seem to be more cohesive than Ryan Pace was with Matt Nagy and John Fox. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. 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. This website uses cookies or other identifiers, which are necessary for its functioning. Monique Scott needed more than 50 percent of the vote to avoid a runoff. 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. Chicago's then-Mayor Rahm Emanuel announced the job creation and his appreciation for Cinespace at a news conference on Sept. 1, 2015. When Hollywood comes to Chicago to film, they do it Chicago style. 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. Your preeminent production platform with 36 active stages across its 1.6 million square foot two campuses, located within 15 minutes of downtown. 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. They've carefully guarded their secret, but when a mysterious young man enters their lives, the couples' quiet existence is quickly upended. The story centers around four 12-year-old girls who deliver newspapers. ft. of what use to be the old Ryerson Steel Company. 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. 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.. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. 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. The story centers around four 12-year-old girls who deliver newspapers. 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. The deal will also expand Cinespaces social impact work in Chicago by growing the CineCares Foundation, the film studios nonprofit wing. . 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. and Cassels Brock & Blackwell LLP served as legal counsel to Cinespace. You can accept the use of cookies or other identifiers by closing or clicking the accept button. Illinois has a 30% tax credit that. Were really happy to have the industry back in action on our campus, said Alex Pissios, president and CEO of Cinespace Chicago Film Studios. Sign Up:Stay on top of the latest film, TV, advertising, entertainment and production news! Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. DOWNLOAD THE FOX 32 NEWS APP. 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 . Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry, Gov. Williamson is a native Chicagoan and rose through the ranks of commercial, non-scripted and scripted TV production starting as a production assistant. The companys Booth Avenue Studios hosted shoots for Guillermo del Toros The Strain, Heroes: Reborn, Rupture and Between. 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. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. 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). Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. Michael Scott Jr. (24th), on June 22, 2022. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. Thanks for subscribing to Block Club Chicago, an independent, 501(c)(3), journalist-run newsroom. ", The Honourable Doug Ford, Premier of Ontario, said: Since launching in 1988, Cinespace has been a pillar of Torontos world class entertainment industry. The Cinespace brand is recognized. 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. 86 active stages. [CDATA[ Returning series filming at the Chicago campus includeChicago Fire, Season 9;Chicago P.D., Season 8;Chicago Med, Season 6; andThe Chi, Season 4; South Side, Season 2; andThe Big Leap. Egan and Gee are accomplished executives who have significant experience building and scaling businesses. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. Pascal Sabino 1:39 PM CST on Nov 12, 2021 J.B. Pritzker. 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. At the Intersection of advertising, TV, film and production. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. 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. Kirkland & Ellis LLP and Davies Ward Phillips & Vineberg LLP served as legal counsel to TREP. Cinespace Chicago Film Studios specializes in the Development, Management & Operation of Studio Facilities. Ve el apartamento 3N en alquiler en 1448 S Rockwell St en Chicago, IL desde $1200 y encuentra otros apartamentos disponibles en Chicago. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Cinespace Chicago Film Studios has been home to NBCs Chicago Fire, Chicago Med and Chicago P.D. I also want to thank the Mirkopoulos family for founding and building up Cinespace here in our city. Michael Scott Jr. (24th) is resigning from the City Council to take a job with Cinespace Studios, a West Side movie studio."Cinespace Studios is an important part of the local . Subscribe for full access to The Hollywood Reporter. Cinespace Chicago Film Studios welcomes several new productions to its growing campus. 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. Founded by the Mirkopoulos family in Toronto together with the Pissios family in Chicago, Cinespace specializes in the development, management, and operation of studio space and support facilities for the film, television, and digital media production industry. The acquisition of Cinespace comes as the streaming content boom has Wall Street and hedge funds eyeing studio campuses for acquisition. CHICAGO (CBS) --Ald. Follow Your Favorite Chicago's Afternoon News Personalities on Twitter:Follow @SteveBertrand Follow @kpowell720 Follow @maryvandeveldeFollow @LaurenLapka Cinespace Chicago specializes in the development, management, and operation of studio facilities for the film, television, and digital media production industry. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. Sign up for our free elert here. They have been the source of incredible Canadian content and a steady job creator for the City and Province. Watch. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. "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. A press release from TPG says former Netflix executive Eoin Egan will take over as a co-managing partner and COO. Zach Long. The studio has about 33 sound stages and recently announced it will add up to 19 more soundstages to its campus. Information. Skip to content Reel Chicago News At the Intersection of advertising, TV, film and production REEL PRO By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. All Rights Reserved. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . J.B. Pritzker said in the TPG statement. 24th Ward candidates headed to April runoff. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. You can accept the use of cookies or other identifiers by closing or clicking the accept button. 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. how interested you are in the Fire, whose season begins Saturday against New York City FC at Soldier Field. Chicago, Illinois, United States . The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . As production begin to ramp back up the studio continues to strictly follow health and safetybest practices from the CDC andIllinois Guidance. 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. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. TPGs investment will expand these efforts and provide more jobs for Illinois.. Its a done deal! said Pissios. 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. New programs scheduled to film at Cinespace Chicago Film Studios this spring include Lightyears, 61st Street, Power Book IV: Force, and Paper Girls. 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.. Cinespace Chicago Entertainment | Film/Movies. Chicago has a compelling, beautiful cityscape with so much potential. Cinespace Chicago Film Studios - DePaul University Sep 2021 - Mar 2022 7 months. 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. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visitChicagoFilmStudios.com orCineCaresFoundation.org. Despite his legal woes and the attention from Colis indictment, Pissios has remained a player in Chicago real estate. Mayor Lori Lightfoot added, Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes. Executive producer Michael B. Jordan (Black Panther) is already shooting the AMC drama series61stStreet at Cinespace Chicago Film Studios. An effort to help diversify TV and film crews, CineCares has created a meaningful (and paid) foot in the door for people of color. (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 . Power Book IV: Force, the third spin-off of the popular StarzPower series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. 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. TPG Real Estate, a Texas- and California-based firm, bought the Chicago studio along with Cinespace Toronto for an estimated $1.1 billion, Deadline reports. According to the news release, TPG . 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, April 21, 2021 (GLOBE NEWSWIRE) -- The film industry in Chicago is back up and rolling! 2023 The Hollywood Reporter, LLC. Crains Chicago Business reported the sale price as $1.1 billion. This timely and provocative drama is set against the systemic abuse that exists in some of our country's most vulnerable communities. 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.. In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . 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 . This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. CineCares creates pathways into the film industry for young people on the South and West Sides through job training, education and internships at Cinespace.
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