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Cinespace intends to continue growing its studio base following the transaction. The Chicago-based chain, which also has locations in Milwaukee, Minneapolis and Dallas, opened the Wicker Park location in 2017. Power Book IV: Force, the third spin-off of the popular StarzPower series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. One of the projects launched under Pissios tenure is a pipeline program called CineCares. Cinespace is the second largest independent sound stage platform in North America with best-in-class studio campuses. //PDF Ever more enticing tax credits, locations renaissance in Chicago and The deal also involves studio space owned by Cinespace in Toronto. The acquisition of Cinespace comes as the streaming content boom has Wall Street and hedge funds eyeing studio campuses for acquisition. All Rights Reserved. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Skoronski is productive: in three seasons as Northwesterns starting left tackle, he allowed just five sacks in 2,364 snaps. //]]> State grants heavily financed Cinespaces expansion into Chicago under Pissios uncle, Nick Mirkopoulos, who founded Cinespace in Toronto in the 1980s. Eoin Egan, who served as the head of production services at Netflix, will serve as the chief operating officer of Cinespace, officials said. 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 sprawling 60-acre campus is located on the West Side, with the main studios at 2621 W. 15th Place in North Lawndale. CHICAGO, April 21, 2021 (GLOBE NEWSWIRE) -- The film industry in Chicago is back up and rolling! Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Cinespace Chicago Film Studio campus in North Lawndale. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. 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. Productions ramped back up once the city reopened in June. Got a story tip? On Tuesday, Mayor Lori Lightfoot of Chicago, the first Black woman and first openly L.G.B.T.Q. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. 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. It was a stunning rebuke. Block Club Chicago is a nonprofit news organization dedicated to . 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. 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. 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. Cinespace Chicago specializes in the development, management, and operation of studio facilities for the film, television, and digital media production industry. newsletter 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 [] Chicago is not trying to be Hollywood. Scott Vs. Scott: Ald. Monique Scott Headed To Runoff Against Creative 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. Despite his legal woes and the attention from Colis indictment, Pissios has remained a player in Chicago real estate. 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. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visit ChicagoFilmStudios.com or CineCaresFoundation.org. 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. 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.. Your fullest creative potential. Eoin Egan, who formerly worked as head ofproductionservices at Netflix, will be named Cinespaces new COO, according to Deadline. Cinespace furthers their vision to build a premier global production Illinois has a 30% tax credit that. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visitChicagoFilmStudios.com orCineCaresFoundation.org. The statement also includes praise from Mayor Lori Lightfoot and Gov. Heres How to See the Dazzling Duo, Vallas and Johnson Headed to Chicago Mayoral Runoff, Lightfoot Denied Second Term, Indicted Ald. Cinespace Expansion Will Bring More TV Shows And Jobs To Chicago, CEO "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. Cinespace Chicago Film Studios | Chicago IL - Facebook Cinespace Chicago Film Studios Being Sold For $1 Billion You can accept the use of cookies or other identifiers by closing or clicking the accept button. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. Sign up for our Eat. CineCares creates pathways into the film industry for young people on the South and West Sides through job training, education and internships at Cinespace. I also want to thank the Mirkopoulos family for founding and building up Cinespace here in our city. Community has always been core to who we are at Cinespace, and I am deeply proud of the employment and education opportunities weve created. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. 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. Cinespace intends to grow its employee base in Chicago and Toronto, officials said. The two are not related. Cinespace is up and rolling with 4 new series and more Reel Chicago News Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. Chicago currently has one other soundstage facility, Chicago Studio City, which is considerably smaller. Follow our newsletter to keep up with new offerings and opportunities at Cinespace - and key developments across our entire industry. Chicago is an entity of its own. News about Cinespace Chicago | Cook County Record Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. 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. 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. It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. 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. 19 talking about this. 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. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. I want to thank TPG for their commitment and investment in Toronto and the future of Cinespace. 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. The city's (non) voters are not a monolith but crowded races and low awareness could be keeping them home, voting organizers say. The deal includes both the Chicago and Toronto locations, which have more than 50 soundstages combined. The combined Cinespace Chicago and Toronto film studios, founded by the Mirkopoulos and Pissios families, are the largest soundstage in the United States outside of Hollywood. 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 . A federal appeals panel has ruled an Illinois state agency didn't violate . DOWNLOAD THE FOX 32 NEWS APP. The companys Booth Avenue Studios hosted shoots for Guillermo del Toros The Strain, Heroes: Reborn, Rupture and Between. The soundstages for Dick Wolf's 'Chicago Fire' and Netflix's 'Umbrella Academy' have been picked up by the real estate investor amid a . Executive producer Michael B. Jordan (Black Panther) is already shooting the AMC drama series 61st Street at Cinespace Chicago Film Studios. Pissios was not able to disclose the terms of the deal, but it is understood from a source close to the transaction that TPG paid around $1.1 billion for Cinespace Studios in Chicago and Cinespace Toronto. Alex Pissios has confirmed that Cinespace Chicago Film Studios and Cinespace Toronto, the amazing empire that he and his uncle Nick Mirkopolous built on a dream, has been sold to TPG Real Estate, a West Coast based global alternative asset manager. Sign Up:Stay on top of the latest film, TV, advertising, entertainment and production news! Terms of the deal, and the purchase price, were not mentioned in the release. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. 415-743-1550, Internet Explorer presents a security risk. Bridgeport bank failure fallout: Washington Federal Bank for Savings Contact Heather Cherone:@HeatherCherone| (773) 569-1863 |[emailprotected]. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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. Jones Lang Lasalle served as financial advisor to TREP. 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. Alex Pissios On the Future of Cinespace Chicago and His - News Anyway 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. 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. Cinespace is building a Hollywood-style studio - Time Out Chicago It's how we act that makes a difference: we offer education and training to engage, support and contribute to our communities. 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 Cinespace brand is recognized around the world for the productions filmed on its premises by the most renowned content creation companies. We also wanted to know or did we? Illinois Governor JB Pritzker commented: Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespaces operations in Chicago and Toronto. Today, TREP has $5.3 billion of assets under management. Cinespace Chicago Film Studios | LinkedIn ft. of what use to be the old Ryerson Steel Company. 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. 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 . Watch. Monique Scott needed more than 50 percent of the vote to avoid a runoff. Terms of the transaction were not disclosed. The CineCare's Foundation Mirkopoulos Internship Program partners with FOX, HBO, NBCUniversal, Wolf Films, and Studio Mechanics Union Local 476. Today In The Culture, March 2, 2023: Duck Pop-Up | Lettuce Entertains Ve el apartamento 3N en alquiler en 1448 S Rockwell St en Chicago, IL desde $1200 y encuentra otros apartamentos disponibles en Chicago. Lightyearswill premiere exclusively on Amazon Prime Video. Do. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. Monique Scott, 51, said she is preparing to fight for the neighborhood she was raised in. Chicago's then-Mayor Rahm Emanuel announced the job creation and his appreciation for Cinespace at a news conference on Sept. 1, 2015. Theyve carefully guarded their secret, but when a mysterious young man enters their lives, the couples quiet existence is quickly upended. Today's news is good news for Cinespace Studios, our city, and our thriving film sector. They have been the source of incredible Canadian content and a steady job creator for the City and Province. media@tpg.com 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. General Inquiries 773.521.8000 studioinfo@cinespace.com 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. 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. Gov. 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. 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. Mayor Lori Lightfoot said in a statement she was thrilled Cinespaces new owners plan to expand its workforce. The Toronto studio launched in 1988. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. Subscribe for full access to The Hollywood Reporter. This timely and provocative drama is set against the systemic abuse that exists in some of our countrys most vulnerable communities. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. person to lead the city, failed to advance to a runoff, earning just 17 . 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. Contact | Cinespace Cinespace Chicago Film Studios Welcomes New Productions, Cinespace Chicago adds 100K sq. ft. of production space as filming Cinespace | Film Studio Locations, Production and Sound Stage Facilities J.B. Pritzker said in the TPG statement. Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. Friday April 20 2018. Cinespace Chicago Film Studios - DePaul University Sep 2021 - Mar 2022 7 months. According to the news release, TPG . 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 opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. Outlets including Crains Chicago Business and Deadline.com are reporting a sale price of $1 billion. 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. Jane Williamson joins Cinespace as Head of Studio Operations 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. 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. 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. Sign up for THR news straight to your inbox every day. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. In Toronto, Cinespace Film Studios was founded in 1988 by highly revered, (Uncle) Nick Mirkopolous. 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. 24th Ward candidates headed to April runoff. Learn More Cinespace Toronto Pissios cooperation earned him a non-prosecution deal with federal prosecutors on fraud charges tied to his 2011 personal bankruptcy. Michael Scott Jr. (24th), on June 22, 2022. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. 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. Your pleasant demeanor, warm smiles, and bigger-than-life personality will be sorely missed on campus. The bar will host a flip cup tournament, trivia nights and, of course, a St. Patrick's Day bash. 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. TPG, which also owns a majority stake in the Hollywood talent agency CAA, declined to confirm that figure when contacted by the Tribune. Egan and Gee are accomplished executives who have significant experience building and scaling businesses. 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. You can accept the use of cookies or other identifiers by closing or clicking the accept button. At the Intersection of advertising, TV, film and production. Detectives were questioning a person who was inside the home at the time. The Cinespace brand is recognized. 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. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . I am thrilled to see this acquisition expand our capability for content creation, Lightfoot said. #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. 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. Feds' mole's disappearing debt - Chicago Sun-Times This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. Since opening in 2011, Cinespace has helped bring more than 15,000 new jobs to the area. Lightyears will premiere exclusively on Amazon Prime Video. TPG is bringing in its own team. Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. The Midwest's production hot spot 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. 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. 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.. 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.