Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. 19 talking about this. What you need to live your best life now. 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. 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 CineCares Foundation aims to empower Chicago residents in these communities by creating opportunities for education and employment in the TV and film industry. The program has provided training to local youth and young adults, giving its apprentices the opportunity to work on Cinespace Chicago campus productions. The bar will host a flip cup tournament, trivia nights and, of course, a St. Patrick's Day bash. ft. of what use to be the old Ryerson Steel Company. 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. 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. 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. Leslie Shribman and Courtney Power To learn more, please refer to the cookie policy. 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. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. DOWNLOAD THE FOX 32 NEWS APP. At the Intersection of advertising, TV, film and production. The indie studio operator was founded by the Toronto-based Mirkopoulos family in 1988, and the Chicago campus was launched in 2010. 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. The deal will also expand Cinespaces social impact work in Chicago by growing the CineCares Foundation, the film studios nonprofit wing. All Rights Reserved. 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Follow Your Favorite Chicago's Afternoon News Personalities on Twitter:Follow @SteveBertrand Follow @kpowell720 Follow @maryvandeveldeFollow @LaurenLapka The Cinespace brand is recognized. Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry, Gov. person to lead the city, failed to advance to a runoff, earning just 17 . This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. 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 Chicago's West Side. Chicago's then-Mayor Rahm Emanuel announced the job creation and his appreciation for Cinespace at a news conference on Sept. 1, 2015. Cinespace is the second largest independent sound stage platform in North America with best-in-class studio campuses. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Much Shelist P.C. The story centers around four 12-year-old girls who deliver newspapers. "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. Sign up for our free elert here. Follow our newsletter to keep up with new offerings and opportunities at Cinespace - and key developments across our entire industry. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. I am thrilled to see this acquisition expand out capability for content creation and look forward to the jobs and productions it will bring to our region.. Sign up for THR news straight to your inbox every day. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. 415-743-1550, Internet Explorer presents a security risk. Its a done deal! said Pissios. A press release from TPG says former Netflix executive Eoin Egan will take over as a co-managing partner and COO. The Toronto studio launched in 1988. Chicago, Illinois, United States . This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. 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' sprawling 60-acre campus is located on the West Side, with the main studios at 2621 W. 15th Place in North [] 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 acquisition of Cinespace comes as the streaming content boom has Wall Street and hedge funds eyeing studio campuses for acquisition. newsletter here. Since opening in 2011, Cinespace has helped bring more than 15,000 new jobs to the area. The Hollywood Reporter is a part of Penske Media Corporation. Stay on top of the latest advertising, film, TV, entertainment and production news. The deal includes both the Chicago and Toronto locations, which have more than 50 soundstages combined. The companys Booth Avenue Studios hosted shoots for Guillermo del Toros The Strain, Heroes: Reborn, Rupture and Between. This timely and provocative drama is set against the systemic abuse that exists in some of our country's most vulnerable communities. Egan and Gee are accomplished executives who have significant experience building and scaling businesses. 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. Eoin Egan, who formerly worked as head ofproductionservices at Netflix, will be named Cinespaces new COO, according to Deadline. Apartamentos.com cuenta con recorridos en 3D, videos en alta definicin, reseas y mucha ms informacin verificada que el resto de las pginas de alquileres. "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. 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. Jones Lang Lasalle served as financial advisor to TREP. Lightyears will premiere exclusively on Amazon Prime Video. News about the Studio and Production Facility Industry | Cinespace News and industry updates about Cinespace, as well as the entire industry devoted to filming locations, production facilities, and studio space. Life on a third straight one-year contract with the mega-talented Astros isnt bad at all. Chicago is an entity of its own. Block Club Chicago is a nonprofit news organization dedicated to . 3.6 million square feet. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . The Cinespace brand is recognized around the world for the productions filmed on its premises by the most renowned content creation companies. 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. Detectives were questioning a person who was inside the home at the time. Cinespace Toronto has 23 production stages across the city, with another 12 stages planned for development on more than 40 acres. Lightyearswill premiere exclusively on Amazon Prime Video. They've carefully guarded their secret, but when a mysterious young man enters their lives, the couples' quiet existence is quickly upended. For more information, visit www.tpg.com. 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. Terms of the transaction were not disclosed. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. Outlets including Crains Chicago Business and Deadline.com are reporting a sale price of $1 billion. This website uses cookies or other identifiers, which are necessary for its functioning. Uncle Nick had the foresight to recognize how important it was for Chicago and the TV industry to have a facility to base a series there. 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. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. Keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visitChicagoFilmStudios.com orCineCaresFoundation.org. General Inquiries 773.521.8000 studioinfo@cinespace.com Sign up for our morning newsletter to get all of our stories delivered to your mailbox each weekday. He was so successful in this endeavor that CineCares created 7,500 new jobs. and Cassels Brock & Blackwell LLP served as legal counsel to Cinespace. Skip to content Reel Chicago News At the Intersection of advertising, TV, film and production REEL PRO I cringe when I hear our town referred to as Hollywood in Chicago. TPG Real Estate has a portfolio of some $5 billion in properties under management, according to the company website. 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 two are not related. Every dime we make fundsreportingfrom Chicagos neighborhoods. ft. of what use to be the old Ryerson Steel Company. What to eat. 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. Egan most recently served as Head of Production Services at Netflix, and Gee as the CEO of Strive and CFO and President of LifeStorage, two former TREP portfolio companies. The pop-up runs Friday through the end of March. Illinois has a 30% tax credit that. 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. When Hollywood comes to Chicago to film, they do it Chicago style. 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. 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. 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. 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. Kirkland & Ellis LLP and Davies Ward Phillips & Vineberg LLP served as legal counsel to TREP. 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 is a family-owned company specializing in the development, management, and operation of studio space and support facilities for the film, television, and digital media production industry. TPG was founded in 1992 and now has approximately $108 billion of assets under management with investment and operational teams in 12 offices around the world. Email Newsroom@BlockClubChi.org. "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. 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. 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. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespaces operations in Chicago and Toronto. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Website. Chicago currently has one other soundstage facility, Chicago Studio City, which is considerably smaller. 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 CineCare's Foundation Mirkopoulos Internship Program partners with FOX, HBO, NBCUniversal, Wolf Films, and Studio Mechanics Union Local 476. Do. 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.
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