Were really happy to have the industry back in action on our campus, said Alex Pissios, president and CEO of Cinespace Chicago Film Studios. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. 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. media@tpg.com I am thrilled to see this acquisition expand our capability for content creation, Lightfoot said. Chicago is an entity of its own. According to Crains Chicago Business, TPG, in a statement, has confirmed that its TPG Real Estate Partners unit has made the acquisition. 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. Follow Your Favorite Chicago's Afternoon News Personalities on Twitter:Follow @SteveBertrand Follow @kpowell720 Follow @maryvandeveldeFollow @LaurenLapka 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. For more information, visit www.tpg.com. Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. ft. of what use to be the old Ryerson Steel Company. 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. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities. Jones Lang Lasalle served as financial advisor to TREP. 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.. 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. Illinois Governor JB Pritzker commented: Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry. 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. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Executive producer Michael B. Jordan (Black Panther) is already shooting the AMC drama series61stStreet at Cinespace Chicago Film Studios. 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. 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. You can accept the use of cookies or other identifiers by closing or clicking the accept button. 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. 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. Clickhereto support Block Clubwith atax-deductible donation. 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. Reporting to Eoin Egan, COO and Co-Managing Partner, she will be responsible for . TPG, which also owns a majority stake in the Hollywood talent agency CAA, declined to confirm that figure when contacted by the Tribune. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. Media Contact In true business news nerd fashion, I wanted to find a Valentine's Day angle . 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. 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. Follow our newsletter to keep up with new offerings and opportunities at Cinespace - and key developments across our entire industry. 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. Information. The deal also involves studio space owned by Cinespace in Toronto. Chicago currently has one other soundstage facility, Chicago Studio City, which is considerably smaller. 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. Sign Up:Stay on top of the latest film, TV, advertising, entertainment and production news! Cinespace intends to grow its employee base at each studio as a result of the transaction. CineCares is how we support, promote, and engage local communities. Mayor Lori Lightfoot said in a statement she was thrilled Cinespaces new owners plan to expand its workforce. 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. 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. In Toronto, Cinespace Film Studios was founded in 1988 by highly revered, (Uncle) Nick Mirkopolous. Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. A press release from TPG says former Netflix executive Eoin Egan will take over as a co-managing partner and COO. The deal includes both the Chicago and Toronto locations, which have more than 50 soundstages combined. Productions ramped back up once the city reopened in June. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. State grants heavily financed Cinespaces expansion into Chicago under Pissios uncle, Nick Mirkopoulos, who founded Cinespace in Toronto in the 1980s. 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.. The indie studio operator was founded by the Toronto-based Mirkopoulos family in 1988, and the Chicago campus was launched in 2010. Crains Chicago Business reported the sale price as $1.1 billion. I also want to thank the Mirkopoulos family for founding and building up Cinespace here in our city. Keep up to date with our latest industry news, from across the world. Industry veteran Eoin Egan, who most recently was head of production services at Netflix, will join Cinespace as chief operating officer and a co-managing partner. Cinespace Studios in Chicago has 33 stages, with 15 more under development. With the city at capacity, having a private equity firm running Cinespace could lead to growth. 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 . Community has always been core to who we are at Cinespace, and I am deeply proud of the employment and education opportunities weve created. CineCares Foundation, which was founded by Cinespace Chicago, aims to provide job training and education in the TV and film industry to underserved communities. The Chicago-based chain, which also has locations in Milwaukee, Minneapolis and Dallas, opened the Wicker Park location in 2017. 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. Michael Scott Jr. (24th), on June 22, 2022. They have been the source of incredible Canadian content and a steady job creator for the City and Province. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed ONeill will star in the sci-fi drama. 415-743-1550, Internet Explorer presents a security risk. Cinespace Chicago Film Studios specializes in the Development, Management & Operation of Studio Facilities. It is home to Dick Wolfs Chicago-set shows, including the One Chicago series, and Showtimes The Chi.. When current Illinois Film Office director Peter Hawley was appointed two years ago, he talked about the need for more soundstage space. 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.. Email Newsroom@BlockClubChi.org. It's how we act that makes a difference: we offer education and training to engage, support and contribute to our communities. 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. 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.. The soundstages for Dick Wolf's 'Chicago Fire' and Netflix's 'Umbrella Academy' have been picked up by the real estate investor amid a . Terms of the transaction were not disclosed. The GM and coach seem to be more cohesive than Ryan Pace was with Matt Nagy and John Fox. 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. 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. Cinespace Chicago Film Studio campus in North Lawndale. Terms of the deal, and the purchase price, were not mentioned in the release. Lightyears will premiere exclusively on Amazon Prime Video. 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. 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. 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. CHICAGO, April 21, 2021 (GLOBE NEWSWIRE) -- The film industry in Chicago is back up and rolling! Our clients create groundbreaking films and television. The CineCares Foundation aims to empower Chicago residents in these communities by creating opportunities for education and employment in the TV and film industry. 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 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 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. 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. Cinespace announced in April plans to add 16 sound stages to its campus on the citys Southwest Side, with Pissios at the time telling Crains that the studio had to turn away projects, and that the expansion would add some 1,200 jobs in the local film industry. (Brian Cassella / Chicago Tribune). 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. 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 bullish on the Chicago film scene as well.
Lynyrd Skynyrd Confederate Flag, Can I Bring A Backpack To Allegiant Stadium, Joseph Ruggiero Fall River, San Antonio Roosevelt High School Football Roster, Articles C