Got a story tip? Community has always been core to who we are at Cinespace, and I am deeply proud of the employment and education opportunities weve created, said Alex Pissios, president and CEO of Cinespace Chicago. Cinespace Chicago Film Studios shoots shows like "Chicago Fire" and "The Chi" at its North Lawndale campus at 2621 W. 15th Place. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. The GM and coach seem to be more cohesive than Ryan Pace was with Matt Nagy and John Fox. The Chicago-based chain, which also has locations in Milwaukee, Minneapolis and Dallas, opened the Wicker Park location in 2017. To learn more, please refer to the cookie policy. 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. 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. Cinespace Chicago specializes in the development, management, and operation of studio facilities for the film, television, and digital media production industry. 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. 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. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. 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. 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. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities. Eastdil Secured provided financing advisory to TREP for the transaction. The studio recently announced it will add up to 19 more soundstages to its campus, about 50 percent more than the studio already has. This timely and provocative drama is set against the systemic abuse that exists in some of our countrys most vulnerable communities. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. 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. 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. Clickhereto support Block Clubwith atax-deductible donation. 86 active stages. According to the news release, TPG plans to expand upon the program, but did not provide further details. Today, TREP has $5.3 billion of assets under management. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. 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. He was so successful in this endeavor that CineCares created 7,500 new jobs. Outlets including Crains Chicago Business and Deadline.com are reporting a sale price of $1 billion. 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. (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 . Subscribe for full access to The Hollywood Reporter. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. Leslie Shribman and Courtney Power 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 city's (non) voters are not a monolith but crowded races and low awareness could be keeping them home, voting organizers say. TPG is bullish on the Chicago film scene as well. 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. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed ONeill will star in the sci-fi drama. A press release from TPG says former Netflix executive Eoin Egan will take over as a co-managing partner and COO. 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. 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. 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. Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. 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. The Chicago studio opened in 2010. 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. We welcome this acquisition by TPG and look forward to their continued investment in Cinespace and commitment to growing their operations in Toronto. Kirkland & Ellis LLP and Davies Ward Phillips & Vineberg LLP served as legal counsel to TREP. 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. Michael Scott Jr. (24th), on June 22, 2022. Sign up for our morning newsletter to get all of our stories delivered to your mailbox each weekday. person to lead the city, failed to advance to a runoff, earning just 17 . 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.. 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 in Chicago has 33 stages, with 15 more under development. Its a done deal! said Pissios. The program has provided training to local youth and young adults, giving its apprentices the opportunity to work on Cinespace Chicago campus productions. You can accept the use of cookies or other identifiers by closing or clicking the accept button. Community has always been core to who we are at Cinespace, and I am deeply proud of the employment and education opportunities weve created. Sign up for our free elert here. Polling Place: Is Patrick Kane the greatest Blackhawk ever. 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. They've carefully guarded their secret, but when a mysterious young man enters their lives, the couples' quiet existence is quickly upended. 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. 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. Life on a third straight one-year contract with the mega-talented Astros isnt bad at all. 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. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visit ChicagoFilmStudios.com or CineCaresFoundation.org. Stay on top of the latest film, TV, advertising, entertainment and production news! 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. 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. 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. 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. Do. 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 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. Lightyearswill premiere exclusively on Amazon Prime Video. 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 . For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visitChicagoFilmStudios.com orCineCaresFoundation.org. 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. 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. It was a stunning rebuke. 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. The bar will host a flip cup tournament, trivia nights and, of course, a St. Patrick's Day bash. 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. TPGs investment will expand these efforts and provide more jobs for Illinois.. The Cinespace brand is recognized around the world for the productions filmed on its premises by the most renowned content creation companies. 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. Information. 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. 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.. 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. 3.6 million square feet. 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. 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. 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. 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. The series of film studio facilities occupy over 1 million square feet of studio, office and support space on over 40 acres of land. 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. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. 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. The deal also involves studio space owned by Cinespace in Toronto. Keep up to date with our latest industry news, from across the world. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. 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. 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. Subscribe:Sign up for our FREE e-lert here. 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.. 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. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Cinespace Chicago specializes in the development, management and operation of studio facilities. Reporting to Eoin Egan, COO and Co-Managing Partner, she will be responsible for . 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 [] their facilities, and in 2011, Cinespace Chicago Film Studios opened on the 70-acre site of the former Ryerson steel complex. //