Chicago, Illinois, United States . Cinespace is the second largest independent sound stage platform in North America with best-in-class studio campuses. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. In Chicago, Cinespace Chicago Film Studios virtually rose up out of an abandoned steel mill. The deal also involves studio space owned by Cinespace in Toronto. "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. Sign Up:Stay on top of the latest film, TV, advertising, entertainment and production news! Sign up for our morning newsletter to get all of our stories delivered to your mailbox each weekday. Follow our newsletter to keep up with new offerings and opportunities at Cinespace - and key developments across our entire industry. What to watch. 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. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. For more information or to contract studio or business space at Cinespace, visit the website at ChicagoFilmStudios.com. Theyve carefully guarded their secret, but when a mysterious young man enters their lives, the couples quiet existence is quickly upended. 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. Polling Place: Is Patrick Kane the greatest Blackhawk ever. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. The CineCare's Foundation Mirkopoulos Internship Program partners with FOX, HBO, NBCUniversal, Wolf Films, and Studio Mechanics Union Local 476. They've carefully guarded their secret, but when a mysterious young man enters their lives, the couples' quiet existence is quickly upended. Its a done deal! said Pissios. All Rights Reserved. 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.. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. The deal includes both the Chicago and Toronto locations, which have more than 50 soundstages combined. The pop-up runs Friday through the end of March. It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. When Hollywood comes to Chicago to film, they do it Chicago style. At the Intersection of advertising, TV, film and production. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . I cringe when I hear our town referred to as Hollywood in Chicago. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. 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. Illinois offers production companies 30% tax credits on production costs and on salaries up to $100,000 through 2026. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. Subscribe to Block Club Chicago,an independent, 501(c)(3), journalist-run newsroom. media@tpg.com Life on a third straight one-year contract with the mega-talented Astros isnt bad at all. Your fullest creative potential. Cinespace Chicago Film Studios has been home to NBC's Chicago Fire, Chicago Med and Chicago P.D. 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. Despite his legal woes and the attention from Colis indictment, Pissios has remained a player in Chicago real estate. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. 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 story centers around four 12-year-old girls who deliver newspapers. Monique Scott was sworn into City Council to replace her brother, former Ald. General Inquiries 773.521.8000 studioinfo@cinespace.com Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. Lightyearswill premiere exclusively on Amazon Prime Video. The Cinespace brand is recognized. Media Contact (Brian Cassella / Chicago Tribune). Got a story tip? The story centers around four 12-year-old girls who deliver newspapers. 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 intends to grow its employee base at each studio as a result of the transaction. The Hollywood Reporter is a part of Penske Media Corporation. 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. Terms of the deal, and the purchase price, were not mentioned in the release. ft. of what use to be the old Ryerson Steel Company. TPGs investment will expand these efforts and provide more jobs for Illinois.. 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 . During the waning days of Gov. J.B. Pritzker. Its how we build something beyond facilities, develop a stronger, more diverse workforce, broaden educational platforms, change the narrative behind the camera, and affect meaningful change to create a more vibrant industry. 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 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. We also wanted to know or did we? Michael Scott Jr. (24th), on June 22, 2022. I want to thank TPG for their commitment and investment in Toronto and the future of Cinespace. Sign up for our free elert here. Eastdil Secured provided financing advisory to TREP for the transaction. Chicago is an entity of its own. Poles needs to make sure Eberflus maintains significant input. When current Illinois Film Office director Peter Hawley was appointed two years ago, he talked about the need for more soundstage space. Chicago currently has one other soundstage facility, Chicago Studio City, which is considerably smaller. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. Having Chicago as a critical 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.". They have been the source of incredible Canadian content and a steady job creator for the City and Province. J.B. Pritzker welcomed Cinespaces new owners and said in a statement he was pleased the firm would expand 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.. 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. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. 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 [] 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. Executive producer Michael B. Jordan (Black Panther) is already shooting the AMC drama series61stStreet at Cinespace Chicago Film Studios. 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. 3.6 million square feet. 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. Cinespace Studios in Chicago has 33 stages, with 15 more under development. 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. 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. On Tuesday, Mayor Lori Lightfoot of Chicago, the first Black woman and first openly L.G.B.T.Q. Chicago's then-Mayor Rahm Emanuel announced the job creation and his appreciation for Cinespace at a news conference on Sept. 1, 2015. Egan and Gee are accomplished executives who have significant experience building and scaling businesses. What you need to live your best life now. [CDATA[ 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. I look forward to seeing Cinespace and the entire film sector in the city with all the jobs that rely on it continue to grow over the coming years.". how interested you are in the Fire, whose season begins Saturday against New York City FC at Soldier Field. Sign up for THR news straight to your inbox every day. 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. Ashlee Rezin Garcia / Sun-Times Alexander S. Pissios, president of Chicago's largest movie studio, had gone bankrupt but was still more than $1 million in debt when federal agents showed up three years ago. 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. 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. New programs scheduled to film at Cinespace Chicago Film Studios this spring include Lightyears, 61st Street, Power Book IV: Force, and Paper Girls. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. The program has provided training to local youth and young adults, giving its apprentices the opportunity to work on Cinespace Chicago campus productions. Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. TPG is bringing in its own team. Subscribe for full access to The Hollywood Reporter. The Toronto studio launched in 1988. Box Office: Michael B. Jordans Creed III Grabbing Title With Series-Best $51M Opening, Lionsgate Dealmakers Michael Burns, Brian Goldsmith Extend Contracts, Jefferson White, Adeline Rudolph Join Hellboy Movie The Crooked Man, Jonathan Krisel in Talks to Direct Pokmon: Detective Pikachu Sequel, Zedd's Striking Beverly Hills Mansion Finally Sells to Kenya Barris, Jennifer Lopez Lists Bel Air Mansion for $42.5M Complete With an Outdoor Amphitheater for Home Concerts, John Malone and Charter Directors Reach $87.5M Deal to Settle Investor Suit, Rupert Murdoch, Fox Corp. Sued For Sharing Bidens Presidential Ads Before They Aired, Paramount Will Pay $122.5M to Settle CBS-Viacom Merger Lawsuit, A24 Buys Off-Broadways Cherry Lane Theatre, Pay TV and Cable Providers Lost 5.8M Subscribers in 2022, Star Hairstylist Jen Atkin Reveals Must-Have Hair Tools, Tutorials and Pro Tips In New MasterClass, Rihannas Puma x Fenty Is Coming Back Heres Where You Can Still Buy Those Cult-Fave Creepers, The Best Bridesmaid Dresses for Every Budget, From Under-$100 Gowns to Hollywood-Inspired Classics, BTS Army: Heres When and Where Legos Dynamite-Inspired Set Arrives Online and In Stores, The Big Lebowski Turns 25: People Didnt Get It, Jeff Bridges Recalls, How the Landscape of Native-Led Stories Has Changed Between Avatars: Were Flexing Our Sovereignty, The Definitive Voice of Entertainment News. CHICAGO, April 21, 2021 (GLOBE NEWSWIRE) -- The film industry in Chicago is back up and rolling! Cinespace Chicago has 33 stages, with an additional 15 stages to be developed or converted on more than 60 acres. The Studios also announced four new series filming at its facilities as productions begin to ramp back up with additional health and safety protocols. 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. 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 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. In true business news nerd fashion, I wanted to find a Valentine's Day angle . 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. 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. 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. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. TPG is bullish on the Chicago film scene as well. 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. Skip to content Reel Chicago News At the Intersection of advertising, TV, film and production REEL PRO 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. 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 . 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. 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. 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. Lightyears will premiere exclusively on Amazon Prime Video. TPG Real Estate Partners ("TREP") is the dedicated real estate equity investment platform of global alternative asset firm TPG. The two are not related. ", The Honourable Doug Ford, Premier of Ontario, said: Since launching in 1988, Cinespace has been a pillar of Torontos world class entertainment industry. Terms of the transaction were not disclosed. Our clients create groundbreaking films and television. 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. Cinespace Chicago Entertainment | Film/Movies. Stay on top of the latest film, TV, advertising, entertainment and production news! 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 . The Chicago studio opened in 2010. Keith Gee, of LifeStorage, will become another co-managing partner and CFO. 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. 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. 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 timely and provocative drama is set against the systemic abuse that exists in some of our countrys most vulnerable communities. New production scheduled to film at Cinespace Chicago Film Studios this spring includeLightyears,61stStreet,Power Book IV: Force, and Paper Girls. 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. 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 and look forward to the jobs and production 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. Watch. The results of that poll, in a word: Oof. 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. 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.