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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. Skoronski is productive: in three seasons as Northwesterns starting left tackle, he allowed just five sacks in 2,364 snaps. Subscribe:Sign up for our FREE e-lert here. Reporting to Eoin Egan, COO and Co-Managing Partner, she will be responsible for . 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. This website uses cookies or other identifiers, which are necessary for its functioning. Skip to content Reel Chicago News At the Intersection of advertising, TV, film and production REEL PRO This website uses cookies or other identifiers, which are necessary for its functioning. The studio recently announced it will add up to 19 more soundstages to its campus, about 50 percent more than the studio already has. I also want to thank the Mirkopoulos family for founding and building up Cinespace here in our city. Website. At the Intersection of advertising, TV, film and production. 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. 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 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. Jones Lang Lasalle served as financial advisor to TREP. 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. 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. "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. Were expanding beyond our workforce development program in Chicago to Toronto so stay in touch for updates. Cinespace Chicago Film Studio Arts & Culture. window.__mirage2 = {petok:"GL3.c8oBr.U4p6a6d_QPYkkKQ28t0k7.ps5ff2XyKPQ-1800-0"}; CineCares Foundation, which was founded by Cinespace Chicago, aims to provide job training and education in the TV and film industry to underserved communities. 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. 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. 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. 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. About Us Locations CineCares News Contact Cinespace Chicago Cinespace Toronto Studio Babelsberg Cinespace We're the perfect partner for your next production. 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. 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.. Chicago Fire, Chicago P.D. and Chicago Med have been the longest tenants at Cinespace, which has over 2 million square feet of space and is located on the campus of the old Ryerson Steel Company on the citys West Side. Block Club Chicago is a nonprofit news organization dedicated to . Clickhereto support Block Clubwith atax-deductible donation. 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 . Alexander Pissios, President of Cinespace Chicago Film Studios joins Steve Bertrand on Chicago's Afternoon News to talk about his plan to expand its studios by 50% by the end of 2021. Thank you Alex for being the best ambassador this film community could ask for. Kirkland & Ellis LLP and Davies Ward Phillips & Vineberg LLP served as legal counsel to TREP. Our clients create groundbreaking films and television. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as Co-Managing Partners and COO and CFO, respectively. Sign up for our free elert here. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. ft. of what use to be the old Ryerson Steel Company. Cinespace Chicago Film Studios has been home to NBCs Chicago Fire, Chicago Med and Chicago P.D. Illinois offers production companies 30% tax credits on production costs and on salaries up to $100,000 through 2026. Were really happy to have the industry back in action on our campus, said Alex Pissios, president and CEO of Cinespace Chicago Film Studios. Executive producer Michael B. Jordan (Black Panther) is already shooting the AMC drama series 61st Street at Cinespace Chicago Film Studios. 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. . 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. 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. Mayor Lori Lightfoot commended the investment for the jobs and productions it will bring to the city. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. 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.. Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. 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 [] 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. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. 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. Chicago currently has one other soundstage facility, Chicago Studio City, which is considerably smaller. Eoin Egan, who formerly worked as head ofproductionservices at Netflix, will be named Cinespaces new COO, according to Deadline. how interested you are in the Fire, whose season begins Saturday against New York City FC at Soldier Field. Cinespace Chicago Film Studios has been home to NBC's Chicago Fire, Chicago Med and Chicago P.D. It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. 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. Pissios cooperation earned him a non-prosecution deal with federal prosecutors on fraud charges tied to his 2011 personal bankruptcy. //]]> 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 . Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. 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. The Hollywood Reporter is a part of Penske Media Corporation. 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. The soundstages for Dick Wolf's 'Chicago Fire' and Netflix's 'Umbrella Academy' have been picked up by the real estate investor amid a . While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. 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.". 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. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. Cinespace Chicago Film Studios shoots shows like "Chicago Fire" and "The Chi" at its North Lawndale campus at 2621 W. 15th Place. Keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. 3.6 million square feet. 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. (StockSnap / Pixabay). their facilities, and in 2011, Cinespace Chicago Film Studios opened on the 70-acre site of the former Ryerson steel complex. 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. New production scheduled to film at Cinespace Chicago Film Studios this spring includeLightyears,61stStreet,Power Book IV: Force, and Paper Girls. TPG, which also owns a majority stake in the Hollywood talent agency CAA, declined to confirm that figure when contacted by the Tribune. We also wanted to know or did we? ft. of what use to be the old Ryerson Steel Company. They have been the source of incredible Canadian content and a steady job creator for the City and Province. 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. 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. The two are not related. Williamson is a native Chicagoan and rose through the ranks of commercial, non-scripted and scripted TV production starting as a production assistant. 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. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . Cinespace Chicago Entertainment | Film/Movies. State grants heavily financed Cinespaces expansion into Chicago under Pissios uncle, Nick Mirkopoulos, who founded Cinespace in Toronto in the 1980s. 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 indie studio operator was founded by the Toronto-based Mirkopoulos family in 1988, and the Chicago campus was launched in 2010. CHICAGO, April 21, 2021 (GLOBE NEWSWIRE) -- The film industry in Chicago is back up and rolling! 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. 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.. [email protected] "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. 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. Keep up to date with our latest industry news, from across the world. You can accept the use of cookies or other identifiers by closing or clicking the accept button. Monique Scott needed more than 50 percent of the vote to avoid a runoff. 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. 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.. I want to thank TPG for their commitment and investment in Toronto and the future of Cinespace. 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. The Toronto studio launched in 1988. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. The companys Booth Avenue Studios hosted shoots for Guillermo del Toros The Strain, Heroes: Reborn, Rupture and Between. Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. As production begin to ramp back up the studio continues to strictly follow health and safetybest practices from the CDC andIllinois Guidance. Its a done deal! said Pissios. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. Chicago has a compelling, beautiful cityscape with so much potential. According to Crains Chicago Business, TPG, in a statement, has confirmed that its TPG Real Estate Partners unit has made the acquisition. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. On Tuesday, Mayor Lori Lightfoot of Chicago, the first Black woman and first openly L.G.B.T.Q. Illinois has a 30% tax credit that. 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. Your preeminent production platform with 36 active stages across its 1.6 million square foot two campuses, located within 15 minutes of downtown. Cinespace Studios announces that Jane Williamson will join the company as Head of Client Services & Studio Operations in Chicago.Nick Pissios will be leaving the position.. Jane was most recently Production Supervisor on season 2 of Lionsgate TV's Power Book IV: Force and Legendary Entertainment's Night Sky. 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. The Cinespace brand is recognized. Since opening in 2011, Cinespace has helped bring more than 15,000 new jobs to the area. Ve el apartamento 3N en alquiler en 1448 S Rockwell St en Chicago, IL desde $1200 y encuentra otros apartamentos disponibles en Chicago. 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. The GM and coach seem to be more cohesive than Ryan Pace was with Matt Nagy and John Fox. 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 Film Studios sprawling 60-acre campus is located on the West Side, with the main studios at 2621 W. 15th Place in North Lawndale. He was so successful in this endeavor that CineCares created 7,500 new jobs. For more information, visit www.tpg.com. Cinespace also has a significant presence in Toronto. 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. 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 . Cinespace is the second largest independent sound stage platform in North America with best-in-class studio campuses. TPGs investment will expand these efforts and provide more jobs for Illinois.. 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. In 2019, film and television productions generated $560 million in revenue and created more than 15,000 jobs in Illinois, before operations screeched to a halt during the COVID-19 pandemic. Learn More Cinespace Toronto Sign up for our Eat. General Inquiries 773.521.8000 [email protected] 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. 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. A press release from TPG says former Netflix executive Eoin Egan will take over as a co-managing partner and COO. 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. Sign up for our morning newsletter to get all of our stories delivered to your mailbox each weekday. 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. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. What to eat. It was a stunning rebuke. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry, Gov. 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. DOWNLOAD THE FOX 32 NEWS APP. Today, TREP has $5.3 billion of assets under management. Chicago is an entity of its own. 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 . It's how we act that makes a difference: we offer education and training to engage, support and contribute to our communities. #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. and Cassels Brock & Blackwell LLP served as legal counsel to Cinespace. According to the news release, TPG plans to expand upon the program, but did not provide further details. 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.