Were really happy to have the industry back in action on our campus, said Alex Pissios, president and CEO of Cinespace Chicago Film Studios. The Cinespace brand is recognized. 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. One of the projects launched under Pissios tenure is a pipeline program called CineCares. 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. 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. 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. Kirkland & Ellis LLP and Davies Ward Phillips & Vineberg LLP served as legal counsel to TREP. 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. 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. New production scheduled to film at Cinespace Chicago Film Studios this spring includeLightyears,61stStreet,Power Book IV: Force, and Paper Girls. It's how we act that makes a difference: we offer education and training to engage, support and contribute to our communities. A federal appeals panel has ruled an Illinois state agency didn't violate . Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. One of the most storied studio complexes in the world, offering 21 sound stages rich in history, with vast production facilities and second-to-none production services that have been utilized by legendary filmmakers. 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. 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. 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 [] Cinespace Chicago Film Studios shoots shows like "Chicago Fire" and "The Chi" at its North Lawndale campus at 2621 W. 15th Place. Cinespace Chicago Film Studios Being Sold For $1 Billion 86 active stages. The Chicago-based chain, which also has locations in Milwaukee, Minneapolis and Dallas, opened the Wicker Park location in 2017. He was so successful in this endeavor that CineCares created 7,500 new jobs. The Cinespace brand is recognized around the world for the productions filmed on its premises by the most renowned content creation companies. 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 Chicago Film Studios announces huge expansion by the - WGN 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. Poles needs to make sure Eberflus maintains significant input. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. 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. Chicago, Illinois, United States . Feds' mole's disappearing debt - Chicago Sun-Times 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. Were expanding beyond our workforce development program in Chicago to Toronto so stay in touch for updates. 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. Sources: Feds made recordings at Cinespace Chicago - Chicago Tribune Cinespace Studios has sold for $1.1B to TPG Real Estate - ReelChicago.com Scott Vs. Scott: Ald. Monique Scott Headed To Runoff Against Creative Illinois Governor JB Pritzker commented: Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry. The CineCares Foundation aims to empower Chicago residents in these communities by creating opportunities for education and employment in the TV and film industry. Force will 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. CineCares is how we support, promote, and engage local communities. Outlets including Crains Chicago Business and Deadline.com are reporting a sale price of $1 billion. Film production studio, which could create hundreds of jobs, eyed for Cinespace Chicago Film Studios | LinkedIn With the city at capacity, having a private equity firm running Cinespace could lead to growth. Lightyears will premiere exclusively on Amazon Prime Video. Skip to content About Us Locations CinecaresNews Contact Log In Cinespace Chicago Cinespace Toronto 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 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. PDF Ever more enticing tax credits, locations renaissance in Chicago and Contact Heather Cherone:@HeatherCherone| (773) 569-1863 |[emailprotected]. Our clients create groundbreaking films and television. Follow our newsletter to keep up with new offerings and opportunities at Cinespace - and key developments across our entire industry. 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. Chicago's then-Mayor Rahm Emanuel announced the job creation and his appreciation for Cinespace at a news conference on Sept. 1, 2015. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. According to Crains Chicago Business, TPG, in a statement, has confirmed that its TPG Real Estate Partners unit has made the acquisition. The CineCare's Foundation Mirkopoulos Internship Program partners with FOX, HBO, NBCUniversal, Wolf Films, and Studio Mechanics Union Local 476. Cinespace Toronto has 23 production stages across the city, with another 12 stages planned for development on more than 40 acres. 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. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visitChicagoFilmStudios.com orCineCaresFoundation.org. media@tpg.com 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. Reporting to Eoin Egan, COO and Co-Managing Partner, she will be responsible for . The program has provided training to local youth and young adults, giving its apprentices the opportunity to work on Cinespace Chicago campus productions. [CDATA[ 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. 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. 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. The deal also involves studio space owned by Cinespace in Toronto. Cinespace Expansion Will Bring More TV Shows And Jobs To Chicago, CEO TPG is investing in two of the most stable and sought-after filming jurisdictions in the world, and we are excited to see Cinespaces continued growth and success with TPG.. Cinespace Chicago Film Studios Welcomes New Productions,

Chunky Rings With Stones, Fox Sports Female Presenters Australia, Macy's Sectional Sofas Sale, Grantham Journal Obituaries, Highest Recorded Temperature In Tracy, Ca, Articles C