cinespace chicago news
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. You can accept the use of cookies or other identifiers by closing or clicking the accept button. 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. 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. The story centers around four 12-year-old girls who deliver newspapers. The acquisition of Cinespace comes as the streaming content boom has Wall Street and hedge funds eyeing studio campuses for acquisition. 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. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespaces operations in Chicago and Toronto. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. 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. What to watch. The indie studio operator was founded by the Toronto-based Mirkopoulos family in 1988, and the Chicago campus was launched in 2010. 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. What to eat. Lightyears will premiere exclusively on Amazon Prime Video. TPGs investment will expand these efforts and provide more jobs for Illinois.. 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. Monique Scott needed more than 50 percent of the vote to avoid a runoff. Keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. DOWNLOAD THE FOX 32 NEWS APP. 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. At the Intersection of advertising, TV, film and production. 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. 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By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. Skip to content About Us Locations CinecaresNews Contact Log In Cinespace Chicago Cinespace Toronto 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. 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. According to Crains Chicago Business, TPG, in a statement, has confirmed that its TPG Real Estate Partners unit has made the acquisition. Do. Your pleasant demeanor, warm smiles, and bigger-than-life personality will be sorely missed on campus. 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. 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. I cringe when I hear our town referred to as Hollywood in Chicago. The Chicago studio opened in 2010. Cinespace intends to grow its employee base in Chicago and Toronto, officials said. Cinespace Chicago Film Studio president Alexander S. "Alex" Pissios at a news conference last February at Cinespace Chicago Film Studio. All Rights Reserved. The deal also involves studio space owned by Cinespace in Toronto. Website. Mayor Lori Lightfoot added, Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes. The Cinespace brand is recognized. Terms of the transaction were not disclosed. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . At the Intersection of advertising, TV, film and production. During the waning days of Gov. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . The city's (non) voters are not a monolith but crowded races and low awareness could be keeping them home, voting organizers say. Chicago has always been a major player in film and TV production, but truth be told, this family took it to a whole new level. 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. In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . 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. The story centers around four 12-year-old girls who deliver newspapers. Our clients create groundbreaking films and television. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. With the city at capacity, having a private equity firm running Cinespace could lead to growth. 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. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. 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. For more information, visit www.tpg.com. 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. This timely and provocative drama is set against the systemic abuse that exists in some of our country's most vulnerable communities. Zach Long. The two are not related. Jones Lang Lasalle served as financial advisor to TREP. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. Sign up for our free elert here. Thanks for subscribing to Block Club Chicago, an independent, 501(c)(3), journalist-run newsroom. #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. 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.. Cinespace Chicago specializes in the development, management and operation of studio facilities. Cinespace intends to grow its employee base at each studio as a result of the transaction. Kirkland & Ellis LLP and Davies Ward Phillips & Vineberg LLP served as legal counsel to TREP. Keep up to date with our latest industry news, from across the world. Cinespace Chicago Film Studios has been home to NBCs Chicago Fire, Chicago Med and Chicago P.D. 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. 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. (StockSnap / Pixabay). 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. 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. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed ONeill will star in the sci-fi drama. With all precincts reporting, Monique Scott won 45.4 percent of the vote in a crowded field, while challenger Creative Scott had 12.6 percent. 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. You can accept the use of cookies or other identifiers by closing or clicking the accept button. Heres How to See the Dazzling Duo, Vallas and Johnson Headed to Chicago Mayoral Runoff, Lightfoot Denied Second Term, Indicted Ald. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities. 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. Watch. Having Chicago as a critical 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.". The studio has about 33 sound stages and recently announced it will add up to 19 more soundstages to its campus. The Hollywood Reporter is a part of Penske Media Corporation. The Studios also announced four new series filming at its facilities as productions begin to ramp back up with additional health and safety protocols. Were really happy to have the industry back in action on our campus, said Alex Pissios, president and CEO of Cinespace Chicago Film Studios. ft. of what use to be the old Ryerson Steel Company. how interested you are in the Fire, whose season begins Saturday against New York City FC at Soldier Field. Pascal Sabino 1:39 PM CST on Nov 12, 2021 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. CineCares Foundation, which was founded by Cinespace Chicago, aims to provide job training and education in the TV and film industry to underserved communities. What you need to live your best life now. (Brian Cassella / Chicago Tribune). We welcome this acquisition by TPG and look forward to their continued investment in Cinespace and commitment to growing their operations in Toronto. Outlets including Crains Chicago Business and Deadline.com are reporting a sale price of $1 billion. 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. 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. I want to thank TPG for their commitment and investment in Toronto and the future of Cinespace. person to lead the city, failed to advance to a runoff, earning just 17 . When Hollywood comes to Chicago to film, they do it Chicago style. To learn more, please refer to the cookie policy. 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. . CineCares is how we support, promote, and engage local communities. 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. Keith Gee, of LifeStorage, will become another co-managing partner and CFO. The Cinespace brand is recognized around the world for the productions filmed on its premises by the most renowned content creation companies. Chicago has a compelling, beautiful cityscape with so much potential. A TPG official, Keith Gee, will be chief financial officer and the other co-managing partner. Cinespace Chicago Film Studios has been home to NBC's Chicago Fire, Chicago Med and Chicago P.D. 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. 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. J.B. Pritzker said in the TPG statement. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. Cinespace Chicago Film Studios shoots shows like "Chicago Fire" and "The Chi" at its North Lawndale campus at 2621 W. 15th Place. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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. Cinespace Chicago Film Studios welcomes several new productions to its growing campus. Stay on top of the latest film, TV, advertising, entertainment and production news! 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 Studios specializes in the Development, Management & Operation of Studio Facilities. According to the news release, TPG . Executive producer Michael B. Jordan (Black Panther) is already shooting the AMC drama series61stStreet at Cinespace Chicago Film Studios. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. 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. 415-743-1550, Internet Explorer presents a security risk. 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 . The statement also includes praise from Mayor Lori Lightfoot and Gov. 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. Block Club Chicago is a nonprofit news organization dedicated to . Cinespace intends to continue growing its studio base following the transaction. Cinespace Toronto has 23 production stages across the city, with another 12 stages planned for development on more than 40 acres. Got a story tip? Its how we build something beyond facilities, develop a stronger, more diverse workforce, broaden educational platforms, change the narrative behind the camera, and affect meaningful change to create a more vibrant industry. A federal appeals panel has ruled an Illinois state agency didn't violate . On Tuesday, Mayor Lori Lightfoot of Chicago, the first Black woman and first openly L.G.B.T.Q. Mayor Lori Lightfoot commended the investment for the jobs and productions it will bring to the city. J.B. Pritzker. 3.6 million square feet. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. 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. Pissios was not able to disclose the terms of the deal, but it is understood from a source close to the transaction that TPG paid around $1.1 billion for Cinespace Studios in Chicago and Cinespace Toronto. 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. (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 . ft. of what use to be the old Ryerson Steel Company. The bar will host a flip cup tournament, trivia nights and, of course, a St. Patrick's Day bash. He was so successful in this endeavor that CineCares created 7,500 new jobs. The studio was acquired by TPG Real Estate in a deal announced Friday. Cinespace Chicago specializes in . Subscribe for full access to The Hollywood Reporter. Cinespaces flagship studio campus on Kipling Avenue in Toronto has played host to shoots for Reign, Beauty and the Beast, Goon: Last of the Enforcers and 12 Monkeys. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. "Jane has worked on the Cinespace lot for many years in several different roles and understands the needs of a production and the Chicago film and TV community," Egan says in a release. Gov. Productions ramped back up once the city reopened in June. 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.. 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. 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. They have been the source of incredible Canadian content and a steady job creator for the City and Province. Chicago is an entity of its own. 86 active stages. The Chicago-based chain, which also has locations in Milwaukee, Minneapolis and Dallas, opened the Wicker Park location in 2017. 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. Sign Up:Stay on top of the latest film, TV, advertising, entertainment and production news! Power Book IV: Force, the third spin-off of the popular StarzPower series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. 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. Monique Scott, 51, said she is preparing to fight for the neighborhood she was raised in. Your preeminent production platform with 36 active stages across its 1.6 million square foot two campuses, located within 15 minutes of downtown. Terms of the deal, and the purchase price, were not mentioned in the release. Executive producer Michael B. Jordan (Black Panther) is already shooting the AMC drama series 61st Street at Cinespace Chicago Film Studios. Williamson is a native Chicagoan and rose through the ranks of commercial, non-scripted and scripted TV production starting as a production assistant. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. 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 deal includes both the Chicago and Toronto locations, which have more than 50 soundstages combined. 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. In true business news nerd fashion, I wanted to find a Valentine's Day angle . Illinois offers production companies 30% tax credits on production costs and on salaries up to $100,000 through 2026. Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. 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. Skip to content Reel Chicago News At the Intersection of advertising, TV, film and production REEL PRO Force is set on Chicago's 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. 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. 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. Information. Cinespace Studios Sold for $1.1B to TPG Real Estate. 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 . Its a done deal! said Pissios. Chicago, Illinois, United States . //
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