They've carefully guarded their secret, but when a mysterious young man enters their lives, the couples' quiet existence is quickly upended. 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. 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. According to Crains Chicago Business, TPG, in a statement, has confirmed that its TPG Real Estate Partners unit has made the acquisition. Despite his legal woes and the attention from Colis indictment, Pissios has remained a player in Chicago real estate. Block Club Chicago is a nonprofit news organization dedicated to . Pat Quinns administration in 2016, Cinespace sought a $15 million state grant to buy real estate to expand its footprint, later reducing the request to $10 million. Michael Scott Jr. (24th), on June 22, 2022. He would later help his nephew, Chicago native Alex Pissios, open the North Lawndale branch in 2011, where Pissios has been president and CEO since. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . 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 up and rolling with 4 new series and more Reel Chicago News Poles needs to make sure Eberflus maintains significant input. CineCares creates pathways into the film industry for young people on the South and West Sides through job training, education and internships at Cinespace. TPG Real Estate Partners ("TREP") is the dedicated real estate equity investment platform of global alternative asset firm TPG. Sources: Feds made recordings at Cinespace Chicago - Chicago Tribune 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. their facilities, and in 2011, Cinespace Chicago Film Studios opened on the 70-acre site of the former Ryerson steel complex. The acquisition of Cinespace comes as the streaming content boom has Wall Street and hedge funds eyeing studio campuses for acquisition. 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. At the Intersection of advertising, TV, film and production. Terms of the deal, and the purchase price, were not mentioned in the release. 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 statement also includes praise from Mayor Lori Lightfoot and Gov. 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. Sign up for our free elert here. 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. This website uses cookies or other identifiers, which are necessary for its functioning. 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. 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. Cinespace Chicago Film Studio | Enjoy 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 . The CineCares Foundation aims to empower Chicago residents in these communities by creating opportunities for education and employment in the TV and film industry. 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. 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 . A federal appeals panel has ruled an Illinois state agency didn't violate . 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.. Skoronski is productive: in three seasons as Northwesterns starting left tackle, he allowed just five sacks in 2,364 snaps. The studio was acquired by TPG Real Estate in a deal announced Friday. Its a done deal! said Pissios. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespaces operations in Chicago and Toronto. When current Illinois Film Office director Peter Hawley was appointed two years ago, he talked about the need for more soundstage space. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . 19 talking about this. Cinespace Chicago specializes in the development, management and operation of studio facilities. 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.". CHICAGO (CBS) --Ald. TPG Real Estate Buys Cinespace Toronto, Chicago Studios for $1.1 Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. 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. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Lightyears will premiere exclusively on Amazon Prime Video. Egan and Gee are accomplished executives who have significant experience building and scaling businesses. The studio has about 33 sound stages and recently announced it will add up to 19 more soundstages to its campus. 2023 The Hollywood Reporter, LLC. This timely and provocative drama is set against the systemic abuse that exists in some of our country's most vulnerable communities. 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 . Jane Williamson joins Cinespace as Head of Studio Operations Cinespace Chicago specializes in . TPG is bringing in its own team. 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. 415-743-1550, Internet Explorer presents a security risk. The indie studio operator was founded by the Toronto-based Mirkopoulos family in 1988, and the Chicago campus was launched in 2010. Keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. 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. 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. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. 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 Chicago Film Studios welcomes several new productions to its growing campus. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. To learn more, please refer to the cookie policy. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . At the Intersection of advertising, TV, film and production. Jones Lang Lasalle served as financial advisor to TREP. Chicago's then-Mayor Rahm Emanuel announced the job creation and his appreciation for Cinespace at a news conference on Sept. 1, 2015. 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. 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. The Cinespace brand is recognized. Ald. Michael Scott Jr. resigning from City Council, joining Cinespace 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.". The story centers around four 12-year-old girls who deliver newspapers. . TPG Real Estate has a portfolio of some $5 billion in properties under management, according to the company website. 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. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. When Hollywood comes to Chicago to film, they do it Chicago style. Much Shelist P.C. 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. Cinespace Chicago Film Studio Arts & Culture. 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. 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. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. Williamson is a native Chicagoan and rose through the ranks of commercial, non-scripted and scripted TV production starting as a production assistant. Cinespace Studios Sold for $1.1B to TPG Real Estate. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. During the waning days of Gov. Theyve carefully guarded their secret, but when a mysterious young man enters their lives, the couples quiet existence is quickly upended. 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. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. 1448 S Rockwell St Chicago, IL 60608 - Alquileres en Chicago, IL Cinespace Chicago Film Studios has been home to NBCs Chicago Fire, Chicago Med and Chicago P.D. Leslie Shribman and Courtney Power Cinespace Chicago Film Studios announces huge expansion by the - WGN 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. Information. Cinespace | Film Studio Locations, Production and Sound Stage Facilities 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.. Chicago is not trying to be Hollywood. Cinespace Chicago Film Studio campus in North Lawndale. 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. You can accept the use of cookies or other identifiers by closing or clicking the accept button. Teagan Pompa - Senior Studio Technician - Cinespace Chicago Film 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. 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. Every dime we make fundsreportingfrom Chicagos neighborhoods. 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. Film production studio, which could create hundreds of jobs, eyed for Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. Since opening in 2011, Cinespace has helped bring more than 15,000 new jobs to the area. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. An effort to help diversify TV and film crews, CineCares has created a meaningful (and paid) foot in the door for people of color. I want to thank TPG for their commitment and investment in Toronto and the future of Cinespace. how interested you are in the Fire, whose season begins Saturday against New York City FC at Soldier Field. Illinois Governor JB Pritzker commented: Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry. Cinespace Studios in Chicago has 33 stages, with 15 more under development. DOWNLOAD THE FOX 32 NEWS APP. 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. Mayor Lori Lightfoot commended the investment for the jobs and productions it will bring to the city. TPG is bullish on the Chicago film scene as well. 3.6 million square feet. 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. Clickhereto support Block Clubwith atax-deductible donation. Today In The Culture, March 2, 2023: Duck Pop-Up | Lettuce Entertains 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. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. Mayor Lori Lightfoot added, Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes. Gov. newsletter here. Ve el apartamento 3N en alquiler en 1448 S Rockwell St en Chicago, IL desde $1200 y encuentra otros apartamentos disponibles en Chicago. TPG is investing in two of the most stable and sought-after filming jurisdictions in the world, and we are excited to see Cinespaces continued growth and success with TPG.. 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. The Chicago studio opened in 2010. Bridgeport bank failure fallout: Washington Federal Bank for Savings The deal also involves studio space owned by Cinespace in Toronto. The two are not related. Sign Up:Stay on top of the latest film, TV, advertising, entertainment and production news! Media Contact Egan most recently served as Head of Production Services at Netflix, and Gee as the CEO of Strive and CFO and President of LifeStorage, two former TREP portfolio companies. "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. 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. 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. We also wanted to know or did we? The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. Stay on top of the latest film, TV, advertising, entertainment and production news! All Rights Reserved. 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. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. 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. The soundstages for Dick Wolf's 'Chicago Fire' and Netflix's 'Umbrella Academy' have been picked up by the real estate investor amid a . Cinespace Chicago Film Studios Welcomes New Productions, CineCares is how we support, promote, and engage local communities. 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. window.__mirage2 = {petok:"GL3.c8oBr.U4p6a6d_QPYkkKQ28t0k7.ps5ff2XyKPQ-1800-0"}; I cringe when I hear our town referred to as Hollywood in Chicago. Pissios cooperation earned him a non-prosecution deal with federal prosecutors on fraud charges tied to his 2011 personal bankruptcy. Monique Scott, 51, said she is preparing to fight for the neighborhood she was raised in. 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. 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. Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. 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. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Productions ramped back up once the city reopened in June. Cinespace Chicago adds 100K sq. ft. of production space as filming
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