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The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. //Alex Pissios On the Future of Cinespace Chicago and His - News Anyway 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. I am thrilled to see this acquisition expand our capability for content creation, Lightfoot said. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. Cinespace Chicago Film Studios Welcomes New Productions, Expands 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. 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. Today's news is good news for Cinespace Studios, our city, and our thriving film sector. Cinespace Chicago Film Studios - DePaul University Sep 2021 - Mar 2022 7 months. Productions ramped back up once the city reopened in June. Media Contact The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. 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. 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. Eoin Egan, who served as the head of production services at Netflix, will serve as the chief operating officer of Cinespace, officials 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. This timely and provocative drama is set against the systemic abuse that exists in some of our country's most vulnerable communities. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. All Rights Reserved. TPG, which also owns a majority stake in the Hollywood talent agency CAA, declined to confirm that figure when contacted by the Tribune. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . 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 . Executive producer Michael B. Jordan (Black Panther) is already shooting the AMC drama series61stStreet at Cinespace Chicago Film Studios. State grants heavily financed Cinespaces expansion into Chicago under Pissios uncle, Nick Mirkopoulos, who founded Cinespace in Toronto in the 1980s. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. Cinespace intends to grow its employee base at each studio as a result of the transaction. What to eat. 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. (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 . 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 is the second largest independent sound stage platform in North America with best-in-class studio campuses. "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. "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. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Scott Vs. Scott: Ald. Monique Scott Headed To Runoff Against Creative Keith Gee, of LifeStorage, will become another co-managing partner and CFO. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed ONeill will star in the sci-fi drama. What you need to live your best life now. 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. The Toronto studio launched in 1988. For more information, visit www.tpg.com. Theyve carefully guarded their secret, but when a mysterious young man enters their lives, the couples quiet existence is quickly upended. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visit ChicagoFilmStudios.com or CineCaresFoundation.org. #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. The CineCare's Foundation Mirkopoulos Internship Program partners with FOX, HBO, NBCUniversal, Wolf Films, and Studio Mechanics Union Local 476. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. TPG is bullish on the Chicago film scene as well. Sign up for our morning newsletter to get all of our stories delivered to your mailbox each weekday. Monique Scott needed more than 50 percent of the vote to avoid a runoff. Bridgeport bank failure fallout: Washington Federal Bank for Savings The city's (non) voters are not a monolith but crowded races and low awareness could be keeping them home, voting organizers say. Feds' mole's disappearing debt - Chicago Sun-Times 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. Pascal Sabino 1:39 PM CST on Nov 12, 2021 The acquisition of Cinespace comes as the streaming content boom has Wall Street and hedge funds eyeing studio campuses for acquisition. 3.6 million square feet. 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. 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. Cinespace furthers their vision to build a premier global production Your pleasant demeanor, warm smiles, and bigger-than-life personality will be sorely missed on campus. In Toronto, Cinespace Film Studios was founded in 1988 by highly revered, (Uncle) Nick Mirkopolous. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visitChicagoFilmStudios.com orCineCaresFoundation.org. According to the news release, TPG . CineCares Foundation, which was founded by Cinespace Chicago, aims to provide job training and education in the TV and film industry to underserved communities. At the Intersection of advertising, TV, film and production. Its a done deal! said Pissios. Cinespace intends to continue growing its studio base following the transaction. 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. Life on a third straight one-year contract with the mega-talented Astros isnt bad at all. 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. Website. 1448 S Rockwell St Chicago, IL 60608 - Alquileres en Chicago, IL Illinois Governor JB Pritzker commented: Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry. Keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Mayor Lori Lightfoot commended the investment for the jobs and productions it will bring to the city. Chicago is not trying to be Hollywood. The program has provided training to local youth and young adults, giving its apprentices the opportunity to work on Cinespace Chicago campus productions. . As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing partners and COO and CFO, respectively. 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. You can accept the use of cookies or other identifiers by closing or clicking the accept button. 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. 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One of Pissios' deepest passions while CEO of Cinespace was to provide education and job training within the film industry. Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry, Gov. Cinespace Chicago sells to Texas real estate company I want to thank TPG for their commitment and investment in Toronto and the future of Cinespace. Cinespace Chicago Film Studios Welcomes New Productions, 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 Studio president Alexander S. "Alex" Pissios at a news conference last February at Cinespace Chicago Film Studio. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. 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. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. News about the Studio and Production Facility Industry | Cinespace Cinespace Chicago Film Studios Being Sold For $1 Billion A federal appeals panel has ruled an Illinois state agency didn't violate . newsletter here. 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. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Cinespace Studios Chicago and Toronto aquired by TPG Real Estate in $1 Film production studio, which could create hundreds of jobs, eyed for 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. In true business news nerd fashion, I wanted to find a Valentine's Day angle . One of the projects launched under Pissios tenure is a pipeline program called CineCares. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. (Brian Cassella / Chicago Tribune). Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. 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. 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 [] Eoin Egan, who formerly worked as head ofproductionservices at Netflix, will be named Cinespaces new COO, according to Deadline. ft. of what use to be the old Ryerson Steel Company. Cinespace Chicago Entertainment | Film/Movies. Mirkopoulos and Pissios, with help from Coli and Teamsters lobbyists, were able to secure millions in state funds to acquire the 60-acre site of the former Ryerson Steel and convert it into studio space. A TPG official, Keith Gee, will be chief financial officer and the other co-managing partner. 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. 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. Clickhereto support Block Clubwith atax-deductible donation. 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. What to watch. 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. 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. 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 . Chicago is an entity of its own. Today In The Culture, March 2, 2023: Duck Pop-Up | Lettuce Entertains 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. Sign up for our free elert here. Cinespace is building a Hollywood-style studio - Time Out Chicago (StockSnap / Pixabay). The bar will host a flip cup tournament, trivia nights and, of course, a St. Patrick's Day bash. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. Our clients create groundbreaking films and television. According to Crains Chicago Business, TPG, in a statement, has confirmed that its TPG Real Estate Partners unit has made the acquisition. 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. 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 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. 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.". Cinespace Studios Sold to Private Equity Firm | Chicago News | WTTW Cinespace Chicago Film Studios specializes in the Development, Management & Operation of Studio Facilities. Illinois has a 30% tax credit that. New production scheduled to film at Cinespace Chicago Film Studios this spring includeLightyears,61stStreet,Power Book IV: Force, and Paper Girls. 24th Ward candidates headed to April runoff. 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.. 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, 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. Chicago has a compelling, beautiful cityscape with so much potential. Keep up to date with our latest industry news, from across the world. It's how we act that makes a difference: we offer education and training to engage, support and contribute to our communities. Gov. The Hollywood Reporter is a part of Penske Media Corporation. 86 active stages. Cinespace Chicago Film Studios welcomes several new productions to its growing campus. General Inquiries 773.521.8000 studioinfo@cinespace.com 19 talking about this. DOWNLOAD THE FOX 32 NEWS APP. Cinespace Expansion Will Bring More TV Shows And Jobs To Chicago, CEO TPG Real Estate Acquired Cinespace Studios In Chicago And - Deadline While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. This website uses cookies or other identifiers, which are necessary for its functioning. Despite his legal woes and the attention from Colis indictment, Pissios has remained a player in Chicago real estate. Every dime we make fundsreportingfrom Chicagos neighborhoods. J.B. Pritzker. 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. Polling Place: Is Patrick Kane the greatest Blackhawk ever. The deal also involves studio space owned by Cinespace in Toronto. 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. 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 . He was so successful in this endeavor that CineCares created 7,500 new jobs. Much Shelist P.C. Cinespace Chicago Film Studios | Chicago IL - Facebook Sign up for THR news straight to your inbox every day. 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. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Poles needs to make sure Eberflus maintains significant input. 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:Stay on top of the latest film, TV, advertising, entertainment and production news! 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 also has a significant presence in Toronto. According to the news release, TPG plans to expand upon the program, but did not provide further details. 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 on Toy Story 4 and Thor: Ragnarok. Cinespace Studios has sold for $1.1B to TPG Real Estate - ReelChicago.com Cinespace Chicago Film Studios has been home to NBC's Chicago Fire, Chicago Med and Chicago P.D. Were expanding beyond our workforce development program in Chicago to Toronto so stay in touch for updates. 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 indie studio operator was founded by the Toronto-based Mirkopoulos family in 1988, and the Chicago campus was launched in 2010. I cringe when I hear our town referred to as Hollywood in Chicago. Follow our newsletter to keep up with new offerings and opportunities at Cinespace - and key developments across our entire industry. 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. I also want to thank the Mirkopoulos family for founding and building up Cinespace here in our city. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. their facilities, and in 2011, Cinespace Chicago Film Studios opened on the 70-acre site of the former Ryerson steel complex. 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. Subscribe for full access to The Hollywood Reporter.