"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. The deal, valued at $1 billion according to Crains Chicago Business, means the Pissios family of Chicago will no longer control the studio space they founded in 2011 with the aid of millions of dollars in state grants. Stay on top of the latest advertising, film, TV, entertainment and production news. 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. TPG Real Estate Buys Cinespace Toronto, Chicago Studios for $1.1 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. CHICAGO (CBS) --Ald. "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. 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. 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 . What to eat. The indie studio operator was founded by the Toronto-based Mirkopoulos family in 1988, and the Chicago campus was launched in 2010. State grants heavily financed Cinespaces expansion into Chicago under Pissios uncle, Nick Mirkopoulos, who founded Cinespace in Toronto in the 1980s. Since its inception in 2009, TREP has built a differentiated investment portfolio comprised primarily of real estate-rich platforms and portfolios located in the United States and Europe. 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. 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 [] Cinespace Chicago specializes in the development, management, and operation of studio facilities for the film, television, and digital media production industry. 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. Our clients create groundbreaking films and television. CineCares is how we support, promote, and engage local communities. 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. Every dime we make fundsreportingfrom Chicagos neighborhoods. Gov. They've carefully guarded their secret, but when a mysterious young man enters their lives, the couples' quiet existence is quickly upended. Follow our newsletter to keep up with new offerings and opportunities at Cinespace - and key developments across our entire industry. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. Cinespace Chicago Film Studio | Enjoy Illinois The results of that poll, in a word: Oof. 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. ft. of what use to be the old Ryerson Steel Company. 86 active stages. Cinespace Studios Chicago and Toronto aquired by TPG Real Estate in $1 Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. The statement also includes praise from Mayor Lori Lightfoot and Gov. TPG Real Estate Acquired Cinespace Studios In Chicago And - Deadline Cinespace Chicago sells to Texas real estate company Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. #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. Your fullest creative potential. The CineCare's Foundation Mirkopoulos Internship Program partners with FOX, HBO, NBCUniversal, Wolf Films, and Studio Mechanics Union Local 476. 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. 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. Cinespace is the second largest independent sound stage platform in North America with best-in-class studio campuses. Polling Place: Is Patrick Kane the greatest Blackhawk ever. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. (Brian Cassella / Chicago Tribune). Cinespace sold to buyout firm in deal reportedly worth $1 billion The companys Booth Avenue Studios hosted shoots for Guillermo del Toros The Strain, Heroes: Reborn, Rupture and Between. Clickhereto support Block Clubwith atax-deductible donation. He was so successful in this endeavor that CineCares created 7,500 new jobs. Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. ft. of what use to be the old Ryerson Steel Company. Cinespace intends to grow its employee base in Chicago and Toronto, officials said. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. To learn more, please refer to the cookie policy. Reporting to Eoin Egan, COO and Co-Managing Partner, she will be responsible for . 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. Cinespace Chicago Film Studios welcomes several new productions to its growing campus. A TPG official, Keith Gee, will be chief financial officer and the other co-managing partner. 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. 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.. As production begin to ramp back up the studio continues to strictly follow health and safetybest practices from the CDC andIllinois Guidance. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. Heres How to See the Dazzling Duo, Vallas and Johnson Headed to Chicago Mayoral Runoff, Lightfoot Denied Second Term, Indicted Ald. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. It's how we act that makes a difference: we offer education and training to engage, support and contribute to our communities. This website uses cookies or other identifiers, which are necessary for its functioning. Sign Up:Stay on top of the latest film, TV, advertising, entertainment and production news! Keith Gee, of LifeStorage, will become another co-managing partner and CFO. Contact Heather Cherone:@HeatherCherone| (773) 569-1863 |[emailprotected]. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. The Chicago-based chain, which also has locations in Milwaukee, Minneapolis and Dallas, opened the Wicker Park location in 2017. Cinespace Chicago has 33 stages, with an additional 15 stages to be developed or converted on more than 60 acres. 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. With the city at capacity, having a private equity firm running Cinespace could lead to growth. 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. TPG, which also owns a majority stake in the Hollywood talent agency CAA, declined to confirm that figure when contacted by the Tribune. 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. 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. 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. Watch. Sources: Feds made recordings at Cinespace Chicago - Chicago Tribune Pascal Sabino 1:39 PM CST on Nov 12, 2021 how interested you are in the Fire, whose season begins Saturday against New York City FC at Soldier Field. Scott Vs. Scott: Ald. Monique Scott Headed To Runoff Against Creative person to lead the city, failed to advance to a runoff, earning just 17 . 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. It is home to Dick Wolfs Chicago-set shows, including the One Chicago series, and Showtimes The Chi.. 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. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. Key tenants at Cinespace include 312 Fast Draw, AbelCine, Cinelease, DePaul FilmSchool, Keslow Camera, Lagunitas, and Periscope Post & Audio. Cinespace | Film Studio Locations, Production and Sound Stage Facilities 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. Your preeminent production platform with 36 active stages across its 1.6 million square foot two campuses, located within 15 minutes of downtown. 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. Stay on top of the latest film, TV, advertising, entertainment and production news! The deal includes both the Chicago and Toronto locations, which have more than 50 soundstages combined. 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. 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. Mayor Lori Lightfoot commended the investment for the jobs and productions it will bring to the city. Kirkland & Ellis LLP and Davies Ward Phillips & Vineberg LLP served as legal counsel to TREP. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. 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 Chicagos West Side. According to the news release, TPG . Illinois Governor JB Pritzker commented: Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry. 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. Sign up for our free elert here. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed ONeill will star in the sci-fi drama. 1448 S Rockwell St Chicago, IL 60608 - Alquileres en Chicago, IL 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 story centers around four 12-year-old girls who deliver newspapers. 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 Honourable Doug Ford, Premier of Ontario, said: Since launching in 1988, Cinespace has been a pillar of Torontos world class entertainment industry. NORTH LAWNDALE 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. 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. Website. New production scheduled to film at Cinespace Chicago Film Studios this spring includeLightyears,61stStreet,Power Book IV: Force, and Paper Girls. 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. 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. (StockSnap / Pixabay). Theyve carefully guarded their secret, but when a mysterious young man enters their lives, the couples quiet existence is quickly upended. About Us Locations CineCares News Contact Cinespace Chicago Cinespace Toronto Studio Babelsberg Cinespace We're the perfect partner for your next production. 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. News about Cinespace Chicago | Cook County Record Skip to content About Us Locations CinecaresNews Contact Log In Cinespace Chicago Cinespace Toronto CHICAGO, April 21, 2021 (GLOBE NEWSWIRE) -- The film industry in Chicago is back up and rolling! 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. Egan most recently was head of production services at Netflix, and Gee was the CEO of Strive and CFO and president of LifeStorage, two former TREP portfolio companies. What you need to live your best life now. 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.. PDF Ever more enticing tax credits, locations renaissance in Chicago and Eoin Egan, who formerly worked as head ofproductionservices at Netflix, will be named Cinespaces new COO, according to Deadline. 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. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. (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 . Lightyears will premiere exclusively on Amazon Prime Video. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities. The deal will also expand Cinespaces social impact work in Chicago by growing the CineCares Foundation, the film studios nonprofit wing. 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. Media Contact 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 Hollywood Reporter is a part of Penske Media Corporation. The city's (non) voters are not a monolith but crowded races and low awareness could be keeping them home, voting organizers say. On Tuesday, Mayor Lori Lightfoot of Chicago, the first Black woman and first openly L.G.B.T.Q. 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. 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. Cinespace Chicago Film Studios | Chicago IL - Facebook Information. You can accept the use of cookies or other identifiers by closing or clicking the accept button. 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. Cinespace Chicago Film Studios | LinkedIn Carrie Austin Resigns from City Council After 29 Years in Office, Why Will County Residents Are Fighting a Major Logistics Hub and Why Backers Say Its Needed, Control of Chicago City Council Up for Grabs as Aldermanic Runoffs Loom. A press release from TPG says former Netflix executive Eoin Egan will take over as a co-managing partner and COO.
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