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. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. 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. Cinespace Chicago Film Studios Welcomes New Productions, Expands 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. Feds' mole's disappearing debt - Chicago Sun-Times 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. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. A press release from TPG says former Netflix executive Eoin Egan will take over as a co-managing partner and COO. 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. At the Intersection of advertising, TV, film and production. TPG Real Estate Buys Cinespace Toronto, Chicago Studios for $1.1 (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 . Illinois Governor JB Pritzker commented: Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry. The Studios also announced four new series filming at its facilities as productions begin to ramp back up with additional health and safety protocols. Lightyears will premiere exclusively on Amazon Prime Video. Cinespace Studios Sold for $1.1B to TPG Real Estate. We welcome this acquisition by TPG and look forward to their continued investment in Cinespace and commitment to growing their operations in Toronto. Mayor Lori Lightfoot added, Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes. Your fullest creative potential. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities. Cinespace Chicago Film Studios specializes in the Development, Management & Operation of Studio Facilities. . [CDATA[ New programs scheduled to film at Cinespace Chicago Film Studios this spring include Lightyears, 61st Street, Power Book IV: Force, and Paper Girls. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing partners and COO and CFO, respectively. It is home to Dick Wolfs Chicago-set shows, including the One Chicago series, and Showtimes The Chi.. // Chicago has a compelling, beautiful cityscape with so much potential. 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. The Chicago-based chain, which also has locations in Milwaukee, Minneapolis and Dallas, opened the Wicker Park location in 2017. 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. Opinion | The Spectacular Fall of Lori Lightfoot - The New York Times #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 series of film studio facilities occupy over 1 million square feet of studio, office and support space on over 40 acres of land. This website uses cookies or other identifiers, which are necessary for its functioning. Cinespace Chicago Film Studio | Enjoy Illinois 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. The studio was acquired by TPG Real Estate in a deal announced Friday. 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. For more information or to contract studio or business space at Cinespace, visit the website at ChicagoFilmStudios.com. 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. What to eat. Stay on top of the latest film, TV, advertising, entertainment and production news! 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. 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.. Terms of the deal, and the purchase price, were not mentioned in the release. About Us Locations CineCares News Contact Cinespace Chicago Cinespace Toronto Studio Babelsberg Cinespace We're the perfect partner for your next production. Ald. Michael Scott Jr. resigning from City Council, joining Cinespace Mayor Lori Lightfoot said in a statement she was thrilled Cinespaces new owners plan to expand its workforce. In Toronto, Cinespace Film Studios was founded in 1988 by highly revered, (Uncle) Nick Mirkopolous. The Cinespace brand is recognized. Were expanding beyond our workforce development program in Chicago to Toronto so stay in touch for updates. Website. 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. We also wanted to know or did we? Heres How to See the Dazzling Duo, Vallas and Johnson Headed to Chicago Mayoral Runoff, Lightfoot Denied Second Term, Indicted Ald. Cinespace Chicago Film Studios | Chicago IL - Facebook Egan and Gee are accomplished executives who have significant experience building and scaling businesses. TPG is bringing in its own team. Learn More Cinespace Toronto 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 Toronto studio launched in 1988. Reporting to Eoin Egan, COO and Co-Managing Partner, she will be responsible for . 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. 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. 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. Do. 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. 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. 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. 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. Illinois has a 30% tax credit that. Your pleasant demeanor, warm smiles, and bigger-than-life personality will be sorely missed on campus. Cinespace Studios in Chicago has 33 stages, with 15 more under development. 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. For more information, visit www.tpg.com. Cinespace | Film Studio Locations, Production and Sound Stage Facilities Cinespace furthers their vision to build a premier global production Your preeminent production platform with 36 active stages across its 1.6 million square foot two campuses, located within 15 minutes of downtown. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. 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. Cinespace is the second largest independent sound stage platform in North America with best-in-class studio campuses. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as Co-Managing Partners and COO and CFO, respectively. 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. One of the projects launched under Pissios tenure is a pipeline program called CineCares. 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. 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. 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 Hollywood Reporter is a part of Penske Media Corporation. 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 family that owns the Cinespace soundstages where - Chicago Tribune You can accept the use of cookies or other identifiers by closing or clicking the accept button. Key tenants at Cinespace include 312 Fast Draw, AbelCine, Cinelease, DePaul FilmSchool, Keslow Camera, Lagunitas, and Periscope Post & Audio. 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 acquisition of Cinespace comes as the streaming content boom has Wall Street and hedge funds eyeing studio campuses for acquisition. The bar will host a flip cup tournament, trivia nights and, of course, a St. Patrick's Day bash. One of Pissios' deepest passions while CEO of Cinespace was to provide education and job training within the film industry. Contact Heather Cherone:@HeatherCherone| (773) 569-1863 |[emailprotected]. Today In The Culture, March 2, 2023: Duck Pop-Up | Lettuce Entertains Cinespace Chicago Film Studio president Alexander S. "Alex" Pissios at a news conference last February at Cinespace Chicago Film Studio. 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. Keith Gee, of LifeStorage, will become another co-managing partner and CFO. Pascal Sabino 1:39 PM CST on Nov 12, 2021 CineCares is how we support, promote, and engage local communities. According to the news release, TPG . 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. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. Zach Long. 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.. TPG Real Estate has a portfolio of some $5 billion in properties under management, according to the company website. Cinespace Expansion Will Bring More TV Shows And Jobs To Chicago, CEO The results of that poll, in a word: Oof. In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . It was a stunning rebuke. 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. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . Cinespace Chicago specializes in . Cinespace Studios Sold to Private Equity Firm | Chicago News | WTTW Cinespace Chicago Film Studios welcomes several new productions to its growing campus. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. I want to thank TPG for their commitment and investment in Toronto and the future of Cinespace. 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. Chicago currently has one other soundstage facility, Chicago Studio City, which is considerably smaller. Sign up for our free elert here. Cinespace Chicago adds 100K sq. ft. of production space as filming As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. 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 . Thank you Alex for being the best ambassador this film community could ask for. Alex Pissios On the Future of Cinespace Chicago and His - News Anyway 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. 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. Cinespace Chicago Film Studios has been home to NBC's Chicago Fire, Chicago Med and Chicago P.D. 3.6 million square feet. Cinespace Chicago Film Studios Being Sold For $1 Billion It's how we act that makes a difference: we offer education and training to engage, support and contribute to our communities. Ve el apartamento 3N en alquiler en 1448 S Rockwell St en Chicago, IL desde $1200 y encuentra otros apartamentos disponibles en Chicago. Jones Lang Lasalle served as financial advisor to TREP. With the city at capacity, having a private equity firm running Cinespace could lead to growth. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. 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. 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 Cinespace brand is recognized around the world for the productions filmed on its premises by the most renowned content creation companies. Williamson is a native Chicagoan and rose through the ranks of commercial, non-scripted and scripted TV production starting as a production assistant. All Rights Reserved. He was so successful in this endeavor that CineCares created 7,500 new jobs. The pop-up runs Friday through the end of March. 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 . 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. Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry, Gov. Cinespace intends to continue growing its studio base following the transaction. 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 studio recently announced it will add up to 19 more soundstages to its campus, about 50 percent more than the studio already has. Gov. Media Contact 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. Box Office: Michael B. 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Bridgeport bank failure fallout: Washington Federal Bank for Savings Skip to content About Us Locations CinecaresNews Contact Log In Cinespace Chicago Cinespace Toronto Cinespace Chicago Film Studios Being Sold For $1 Billion Every dime we make fundsreportingfrom Chicagos neighborhoods. This timely and provocative drama is set against the systemic abuse that exists in some of our countrys most vulnerable communities. 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. Jane Williamson joins Cinespace as Head of Studio Operations 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.
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