Clickhereto support Block Clubwith atax-deductible donation. 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. Michael Scott Jr. (24th), on June 22, 2022. J.B. Pritzker said in the TPG statement. 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 Chicago Film Studios has been home to NBC's Chicago Fire, Chicago Med and Chicago P.D. Subscribe for full access to The Hollywood Reporter. 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. We also wanted to know or did we? To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Cinespace Chicago Film Studio Arts & Culture. Keep up to date with our latest industry news, from across the world. This website uses cookies or other identifiers, which are necessary for its functioning. Email Newsroom@BlockClubChi.org. ", The Honourable Doug Ford, Premier of Ontario, said: Since launching in 1988, Cinespace has been a pillar of Torontos world class entertainment industry. #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. 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, continued Alex Pissios, President and CEO of Cinespace Chicago. 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. DOWNLOAD THE FOX 32 NEWS APP. 86 active stages. 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. Cinespace also has a significant presence in Toronto. Keep up to date with our latest industry news, from across the world. The Cinespace brand is recognized around the world for the productions filmed on its premises by the most renowned content creation companies. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. 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 . To learn more, please refer to the cookie policy. About Us Locations CineCares News Contact Cinespace Chicago Cinespace Toronto Studio Babelsberg Cinespace We're the perfect partner for your next production. Skoronski is productive: in three seasons as Northwesterns starting left tackle, he allowed just five sacks in 2,364 snaps. Jones Lang Lasalle served as financial advisor to TREP. Cinespace Chicago Film Studios - DePaul University Sep 2021 - Mar 2022 7 months. Your preeminent production platform with 36 active stages across its 1.6 million square foot two campuses, located within 15 minutes of downtown. Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. Keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Were expanding beyond our workforce development program in Chicago to Toronto so stay in touch for updates. Detectives were questioning a person who was inside the home at the time. 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. TPG Real Estate has a portfolio of some $5 billion in properties under management, according to the company website. 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. One of Pissios' deepest passions while CEO of Cinespace was to provide education and job training within the film industry. Monique Scott was sworn into City Council to replace her brother, former Ald. 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 . As production begin to ramp back up the studio continues to strictly follow health and safetybest practices from the CDC andIllinois Guidance. 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. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . TPG Real Estate Partners has purchased studio campuses in Toronto and Chicago belonging to Cinespace Studios, home to production of major films and TV series like Dick Wolfs Chicago Fire, Chicago PD and Chicago Med, Netflixs Umbrella Academy and MGMs The Handmaids Tale. Today's news is good news for Cinespace Studios, our city, and our thriving film sector. Watch. They have been the source of incredible Canadian content and a steady job creator for the City and Province. 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. 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. Chicago is an entity of its own. Executive producer Michael B. Jordan (Black Panther) is already shooting the AMC drama series61stStreet at Cinespace Chicago Film Studios. Community has always been core to who we are at Cinespace, and I am deeply proud of the employment and education opportunities weve created. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed ONeill will star in the sci-fi drama. 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.. 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. 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. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. 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. Chicago is not trying to be Hollywood. Pascal Sabino 1:39 PM CST on Nov 12, 2021 Block Club Chicago is a nonprofit news organization dedicated to delivering reliable, nonpartisan and essential coverage of Chicagos diverse neighborhoods. It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. 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. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. Your fullest creative potential. Williamson is a native Chicagoan and rose through the ranks of commercial, non-scripted and scripted TV production starting as a production assistant. TREP plans to expand the work done by the CineCares Foundation, a platform founded by Cinespace in Chicago in partnership with key productions on site to provide job training and education to underserved communities. 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. Every dime we make fundsreportingfrom Chicagos neighborhoods. 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. Friday April 20 2018. media@tpg.com TPG is bullish on the Chicago film scene as well. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. When Hollywood comes to Chicago to film, they do it Chicago style. 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. The deal also involves studio space owned by Cinespace in Toronto. Chicago's then-Mayor Rahm Emanuel announced the job creation and his appreciation for Cinespace at a news conference on Sept. 1, 2015. 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. Poles needs to make sure Eberflus maintains significant input. Mayor Lori Lightfoot added, Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes. Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. The CineCare's Foundation Mirkopoulos Internship Program partners with FOX, HBO, NBCUniversal, Wolf Films, and Studio Mechanics Union Local 476. A press release from TPG says former Netflix executive Eoin Egan will take over as a co-managing partner and COO. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Netflix launching a production hub in Toronto by locking up eight soundstages four each at Pinewood Toronto Studios and Cinespace Film Studios in turn sparked a local space race by Hollywood streaming giants scrambling for soundstages on which to create new high-quality film and TV content. The soundstages for Dick Wolf's 'Chicago Fire' and Netflix's 'Umbrella Academy' have been picked up by the real estate investor amid a streaming content boom. 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. . The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. The Cinespace brand is recognized. 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. This timely and provocative drama is set against the systemic abuse that exists in some of our countrys most vulnerable communities. 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.. 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 has 33 stages, with an additional 15 stages to be developed or converted on more than 60 acres. CineCares Foundation, which was founded by Cinespace Chicago, aims to provide job training and education in the TV and film industry to underserved communities. Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. 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. Cinespace Chicago Film Studios shoots shows like "Chicago Fire" and "The Chi" at its North Lawndale campus at 2621 W. 15th Place. 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. 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.". their facilities, and in 2011, Cinespace Chicago Film Studios opened on the 70-acre site of the former Ryerson steel complex. One of the projects launched under Pissios tenure is a pipeline program called CineCares. New production scheduled to film at Cinespace Chicago Film Studios this spring includeLightyears,61stStreet,Power Book IV: Force, and Paper Girls. Were really happy to have the industry back in action on our campus, said Alex Pissios, president and CEO of Cinespace Chicago Film Studios. ft. of what use to be the old Ryerson Steel Company. What you need to live your best life now. 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. Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry, Gov. 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.. //]]> 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 . 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. 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. Eastdil Secured provided financing advisory to TREP for the transaction. TPG, which also owns a majority stake in the Hollywood talent agency CAA, declined to confirm that figure when contacted by the Tribune. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. 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. Life on a third straight one-year contract with the mega-talented Astros isnt bad at all. An effort to help diversify TV and film crews, CineCares has created a meaningful (and paid) foot in the door for people of color. 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 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. window.__mirage2 = {petok:"GL3.c8oBr.U4p6a6d_QPYkkKQ28t0k7.ps5ff2XyKPQ-1800-0"}; 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. 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. For more information or to contract studio or business space at Cinespace, visit the website at ChicagoFilmStudios.com. He was so successful in this endeavor that CineCares created 7,500 new jobs. The program has provided training to local youth and young adults, giving its apprentices the opportunity to work on Cinespace Chicago campus productions. A TPG official, Keith Gee, will be chief financial officer and the other co-managing partner. Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. He has the pedigree, too: his grandfather Bob was a left tackle and offensive captain on Packers teams that won five NFL championships from 1961-67. Sign up for our free elert here. 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. 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. Cinespace Chicago Film Studio president Alexander S. "Alex" Pissios at a news conference last February at Cinespace Chicago Film Studio. Cinespace Studios in Chicago has 33 stages, with 15 more under development. Box Office: Michael B. 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TPG Real Estate Partners ("TREP") is the dedicated real estate equity investment platform of global alternative asset firm TPG. You can accept the use of cookies or other identifiers by closing or clicking the accept button. Cinespace intends to grow its employee base at each studio as a result of the transaction. I want to thank TPG for their commitment and investment in Toronto and the future of Cinespace. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespaces operations in Chicago and Toronto. The statement also includes praise from Mayor Lori Lightfoot and Gov. ft. of what use to be the old Ryerson Steel Company. Cinespace Studios Sold for $1.1B to TPG Real Estate. 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The studio has about 33 sound stages and recently announced it will add up to 19 more soundstages to its campus. Cinespace Chicago Film Studios welcomes several new productions to its growing campus.. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities.. Subscribe:Sign up for our FREE e-lert here. In Chicago, Cinespace Chicago Film Studios virtually rose up out of an abandoned steel mill. Subscribe to Block Club Chicago,an independent, 501(c)(3), journalist-run newsroom. 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. Chicago has always been a major player in film and TV production, but truth be told, this family took it to a whole new level. Illinois has a 30% tax credit that. Founded by the Mirkopoulos family in Toronto together with the Pissios family in Chicago, Cinespace specializes in the development, management, and operation of studio space and support facilities for the film, television, and digital media production industry. Lightyearswill premiere exclusively on Amazon Prime Video.