cinespace chicago news

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. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. TREP plans to expand the work done by the CineCares Foundation, a platform founded by Cinespace in Chicago in partnership with key productions on site to provide job training and education to underserved communities. 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. Productions ramped back up once the city reopened in June. What you need to live your best life now. Zach Long. 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.". It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. . Power Book IV: Force, the third spin-off of the popular StarzPower series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. 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 [] The acquisition of Cinespace comes as the streaming content boom has Wall Street and hedge funds eyeing studio campuses for acquisition. 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.. It was a stunning rebuke. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as Co-Managing Partners and COO and CFO, respectively. Cinespace Chicago Film Studios has been home to NBC's Chicago Fire, Chicago Med and Chicago P.D. Crains Chicago Business reported the sale price as $1.1 billion. The soundstages for Dick Wolf's 'Chicago Fire' and Netflix's 'Umbrella Academy' have been picked up by the real estate investor amid a . 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. 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. In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . 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. This website uses cookies or other identifiers, which are necessary for its functioning. Every dime we make fundsreportingfrom Chicagos neighborhoods. Subscribe:Sign up for our FREE e-lert here. Monique Scott needed more than 50 percent of the vote to avoid a runoff. 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. Terms of the transaction were not disclosed. The studio recently announced it will add up to 19 more soundstages to its campus, about 50 percent more than the studio already has. Jones Lang Lasalle served as financial advisor to TREP. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities. Every dime we make fundsreportingfrom Chicagos neighborhoods. This timely and provocative drama is set against the systemic abuse that exists in some of our country's most vulnerable communities. 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. Cinespace Chicago Film Studios welcomes several new productions to its growing campus. New production scheduled to film at Cinespace Chicago Film Studios this spring includeLightyears,61stStreet,Power Book IV: Force, and Paper Girls. The city's (non) voters are not a monolith but crowded races and low awareness could be keeping them home, voting organizers say. Kirkland & Ellis LLP and Davies Ward Phillips & Vineberg LLP served as legal counsel to TREP. Got a story tip? 415-743-1550, Internet Explorer presents a security risk. 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 family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. Your preeminent production platform with 36 active stages across its 1.6 million square foot two campuses, located within 15 minutes of downtown. Media Contact 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. 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. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. 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. Ve el apartamento 3N en alquiler en 1448 S Rockwell St en Chicago, IL desde $1200 y encuentra otros apartamentos disponibles en Chicago. 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. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. 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 . To ensure the most secure and best overall experience on our website, we recommend the latest versions of. It's how we act that makes a difference: we offer education and training to engage, support and contribute to our communities. In 2019, film and television productions generated $560 million in revenue and created more than 15,000 jobs in Illinois, before operations screeched to a halt during the COVID-19 pandemic. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. The companys Booth Avenue Studios hosted shoots for Guillermo del Toros The Strain, Heroes: Reborn, Rupture and Between. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . 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. Block Club Chicago is a nonprofit news organization dedicated to . Cinespace Chicago Entertainment | Film/Movies. 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. The series of film studio facilities occupy over 1 million square feet of studio, office and support space on over 40 acres of land. Information. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visit ChicagoFilmStudios.com or CineCaresFoundation.org. The deal includes both the Chicago and Toronto locations, which have more than 50 soundstages combined. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . Cinespace Chicago Film Studios - DePaul University Sep 2021 - Mar 2022 7 months. how interested you are in the Fire, whose season begins Saturday against New York City FC at Soldier Field. Skip to content Reel Chicago News At the Intersection of advertising, TV, film and production REEL PRO 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. 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.. Egan and Gee are accomplished executives who have significant experience building and scaling businesses. The Hollywood Reporter is a part of Penske Media Corporation. Terms of the deal, and the purchase price, were not mentioned in the release. [CDATA[ Today, TREP has $5.3 billion of assets under management. 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. We also wanted to know or did we? 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. CineCares Foundation, which was founded by Cinespace Chicago, aims to provide job training and education in the TV and film industry to underserved communities. The story centers around four 12-year-old girls who deliver newspapers. Much Shelist P.C. Block Club Chicago is a nonprofit news organization dedicated to delivering reliable, nonpartisan and essential coverage of Chicagos diverse neighborhoods. At the Intersection of advertising, TV, film and production. CineCares creates pathways into the film industry for young people on the South and West Sides through job training, education and internships at Cinespace. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq.