PDF Ever more enticing tax credits, locations renaissance in Chicago and Skip to content Reel Chicago News At the Intersection of advertising, TV, film and production REEL PRO 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. (Brian Cassella / Chicago Tribune). 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. Skip to content About Us Locations CinecaresNews Contact Log In Cinespace Chicago Cinespace Toronto In true business news nerd fashion, I wanted to find a Valentine's Day angle . 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.. 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 program has provided training to local youth and young adults, giving its apprentices the opportunity to work on Cinespace Chicago campus productions. 415-743-1550, Internet Explorer presents a security risk. In Chicago, Cinespace Chicago Film Studios virtually rose up out of an abandoned steel mill. At the Intersection of advertising, TV, film and production. 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 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. Cinespace Chicago Film Studios announces huge expansion by the - WGN As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. //]]> Heres How to See the Dazzling Duo, Vallas and Johnson Headed to Chicago Mayoral Runoff, Lightfoot Denied Second Term, Indicted Ald. 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. their facilities, and in 2011, Cinespace Chicago Film Studios opened on the 70-acre site of the former Ryerson steel complex. I also want to thank the Mirkopoulos family for founding and building up Cinespace here in our city. 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. 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. Opinion | The Spectacular Fall of Lori Lightfoot - The New York Times 2023 The Hollywood Reporter, LLC. Kirkland & Ellis LLP and Davies Ward Phillips & Vineberg LLP served as legal counsel to TREP. 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. Outlets including Crains Chicago Business and Deadline.com are reporting a sale price of $1 billion. Contact | Cinespace Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. 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. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visit ChicagoFilmStudios.com or CineCaresFoundation.org. 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 . 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. 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 Toronto has 23 production stages across the city, with another 12 stages planned for development on more than 40 acres. Jones Lang Lasalle served as financial advisor to TREP. Thank you Alex for being the best ambassador this film community could ask for. The family that owns the Cinespace soundstages where - Chicago Tribune 86 active stages. Subscribe:Sign up for our FREE e-lert here. 19 talking about this. 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. Terms of the deal, and the purchase price, were not mentioned in the release. Media Contact Productions ramped back up once the city reopened in June. The story centers around four 12-year-old girls who deliver newspapers. Jane Williamson joins Cinespace as Head of Studio Operations 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. In addition to film production, the campus is home to Stage 18 Chicago, a 501(c) 3 organization and incubator established to retain and grow talent in Chicago. Poles needs to make sure Eberflus maintains significant input. 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. "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. Since opening in 2011, Cinespace has helped bring more than 15,000 new jobs to the area. The studio was acquired by TPG Real Estate in a deal announced Friday. TPG Real Estate Buys Cinespace Toronto, Chicago Studios for $1.1 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. "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. New programs scheduled to film at Cinespace Chicago Film Studios this spring include Lightyears, 61st Street, Power Book IV: Force, and Paper Girls. The studio recently announced it will add up to 19 more soundstages to its campus, about 50 percent more than the studio already has. It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. 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. The two are not related. It was a stunning rebuke. 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. One of Pissios' deepest passions while CEO of Cinespace was to provide education and job training within the film industry. Every dime we make fundsreportingfrom Chicagos neighborhoods. Cinespace Studios Chicago and Toronto aquired by TPG Real Estate in $1 Skoronski is productive: in three seasons as Northwesterns starting left tackle, he allowed just five sacks in 2,364 snaps. 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. 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. Watch. Community has always been core to who we are at Cinespace, and I am deeply proud of the employment and education opportunities weve created. 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 . 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. Its a done deal! said Pissios. What to eat. 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. 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. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. 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. Were really happy to have the industry back in action on our campus, said Alex Pissios, president and CEO of Cinespace Chicago Film Studios. Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. Bridgeport bank failure fallout: Washington Federal Bank for Savings Detectives were questioning a person who was inside the home at the time. As production begin to ramp back up the studio continues to strictly follow health and safetybest practices from the CDC andIllinois Guidance. Cinespace furthers their vision to build a premier global production