Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. 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. The family that owns the Cinespace soundstages where - Chicago Tribune In Toronto, Cinespace Film Studios was founded in 1988 by highly revered, (Uncle) Nick Mirkopolous. 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 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. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visit ChicagoFilmStudios.com or CineCaresFoundation.org. 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. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. ", The Honourable Doug Ford, Premier of Ontario, said: Since launching in 1988, Cinespace has been a pillar of Torontos world class entertainment industry. 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. 24th Ward candidates headed to April runoff. 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. 415-743-1550, Internet Explorer presents a security risk. Detectives were questioning a person who was inside the home at the time. TPG Real Estate Acquires Leading Sound Stage Owner Cinespace Studios Poles needs to make sure Eberflus maintains significant input. 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. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. . I cringe when I hear our town referred to as Hollywood in Chicago. 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.. Media Contact Kirkland & Ellis LLP and Davies Ward Phillips & Vineberg LLP served as legal counsel to TREP. (Brian Cassella / Chicago Tribune). The results of that poll, in a word: Oof. J.B. Pritzker welcomed Cinespaces new owners and said in a statement he was pleased the firm would expand 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.. 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. Your pleasant demeanor, warm smiles, and bigger-than-life personality will be sorely missed on campus. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . window.__mirage2 = {petok:"GL3.c8oBr.U4p6a6d_QPYkkKQ28t0k7.ps5ff2XyKPQ-1800-0"}; Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. The indie studio operator was founded by the Toronto-based Mirkopoulos family in 1988, and the Chicago campus was launched in 2010. 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.". Cinespace is up and rolling with 4 new series and more Reel Chicago News Zach Long. One of Pissios' deepest passions while CEO of Cinespace was to provide education and job training within the film industry. Despite his legal woes and the attention from Colis indictment, Pissios has remained a player in Chicago real estate. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. 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. Outlets including Crains Chicago Business and Deadline.com are reporting a sale price of $1 billion. Cinespace Chicago Film Studio Arts & Culture. Cinespace Chicago Film Studios has been home to NBCs Chicago Fire, Chicago Med and Chicago P.D. TPG Real Estate Buys Cinespace Toronto, Chicago Studios for $1.1 Cinespace Studios Sold for $1.1B to TPG Real Estate. At the Intersection of advertising, TV, film and production. Cinespace is building a Hollywood-style studio - Time Out Chicago Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. (StockSnap / Pixabay). 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. Teagan Pompa - Senior Studio Technician - Cinespace Chicago Film Clickhereto support Block Clubwith atax-deductible donation. It was a stunning rebuke. This timely and provocative drama is set against the systemic abuse that exists in some of our countrys most vulnerable communities. CineCares Foundation, which was founded by Cinespace Chicago, aims to provide job training and education in the TV and film industry to underserved 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. The Hollywood Reporter is a part of Penske Media Corporation. 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. The bar will host a flip cup tournament, trivia nights and, of course, a St. Patrick's Day bash. 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.. Eastdil Secured provided financing advisory to TREP for the transaction. Lightyearswill premiere exclusively on Amazon Prime Video. 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. 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.. What to watch. Website. Cinespace Chicago Film Studios Being Sold For $1 Billion To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Cinespace Chicago Film Studio president Alexander S. "Alex" Pissios at a news conference last February at Cinespace Chicago Film Studio. . 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. 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. He was so successful in this endeavor that CineCares created 7,500 new jobs. The Chicago-based chain, which also has locations in Milwaukee, Minneapolis and Dallas, opened the Wicker Park location in 2017. Jones Lang Lasalle served as financial advisor to TREP. Clickhereto support Block Clubwith atax-deductible donation. Subscribe:Sign up for our FREE e-lert here. 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. 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. 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. 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. We welcome this acquisition by TPG and look forward to their continued investment in Cinespace and commitment to growing their operations in Toronto. The studio was acquired by TPG Real Estate in a deal announced Friday. 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. 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. 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. The GM and coach seem to be more cohesive than Ryan Pace was with Matt Nagy and John Fox. "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. ft. of what use to be the old Ryerson Steel Company. 24th Ward candidates headed to April runoff - Austin Weekly News According to the news release, TPG plans to expand upon the program, but did not provide further details. Chicago currently has one other soundstage facility, Chicago Studio City, which is considerably smaller. TPG Real Estate Acquired Cinespace Studios In Chicago And - Deadline Sign Up:Stay on top of the latest film, TV, advertising, entertainment and production news! Cinespace Chicago Film Studios Being Sold For $1 Billion Michael Scott Jr. (24th), on June 22, 2022. Monique Scott needed more than 50 percent of the vote to avoid a runoff. You can accept the use of cookies or other identifiers by closing or clicking the accept button. Information. General Inquiries 773.521.8000 studioinfo@cinespace.com 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. 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. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visitChicagoFilmStudios.com orCineCaresFoundation.org. 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. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as Co-Managing Partners and COO and CFO, respectively. 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. Crains Chicago Business reported the sale price as $1.1 billion. For 10 years, the majority of TV and movie projects in Chicago have been filmed at Cinespace Chicago Film Studios, the soundstage complex in North Lawndale. Chicago Fire, Chicago P.D. and Chicago Med have been the longest tenants at Cinespace, which has over 2 million square feet of space and is located on the campus of the old Ryerson Steel Company on the citys West Side. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. Cinespace also has a significant presence in Toronto. We also wanted to know or did we? The studio has about 33 sound stages and recently announced it will add up to 19 more soundstages to its campus. Cinespace Toronto has 23 production stages across the city, with another 12 stages planned for development on more than 40 acres. About Us Locations CineCares News Contact Cinespace Chicago Cinespace Toronto Studio Babelsberg Cinespace We're the perfect partner for your next production. 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. Jane Williamson joins Cinespace as Head of Studio Operations Cinespace Studios Chicago and Toronto aquired by TPG Real Estate in $1 As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities. 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. Alex Pissios has confirmed that Cinespace Chicago Film Studios and Cinespace Toronto, the amazing empire that he and his uncle Nick Mirkopolous built on a dream, has been sold to TPG Real Estate, a West Coast based global alternative asset manager. Cinespace Chicago Film Studios announces huge expansion by the - WGN Cinespace | Film Studio Locations, Production and Sound Stage Facilities 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. 86 active stages. In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . TPG is bringing in its own team. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. Follow Your Favorite Chicago's Afternoon News Personalities on Twitter:Follow @SteveBertrand Follow @kpowell720 Follow @maryvandeveldeFollow @LaurenLapka Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. For more information or to contract studio or business space at Cinespace, visit the website at ChicagoFilmStudios.com. 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, said Jacob Muller, managing director at TPG Real Estate Partners. 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. All Rights Reserved. and Cassels Brock & Blackwell LLP served as legal counsel to Cinespace. J.B. Pritzker. Michael Scott Jr. (24th) is resigning from the City Council to take a job with Cinespace Studios, a West Side movie studio."Cinespace Studios is an important part of the local . 1448 S Rockwell St Chicago, IL 60608 - Alquileres en Chicago, IL Sources: Feds made recordings at Cinespace Chicago - Chicago Tribune 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. It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. ft. of what use to be the old Ryerson Steel Company. For more information, visit www.tpg.com. The Toronto studio launched in 1988. With the city at capacity, having a private equity firm running Cinespace could lead to growth. 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. 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 . Cinespace furthers their vision to build a premier global production 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. Cinespace sold to buyout firm in deal reportedly worth $1 billion

How Much Does Morpheus8 Machine Cost, Huntington By The Sea Mobile Estates Lot Rent, Articles C