A TPG official, Keith Gee, will be chief financial officer and the other co-managing partner.
Cinespace Chicago Film Studios Welcomes New Productions, Skoronski is productive: in three seasons as Northwesterns starting left tackle, he allowed just five sacks in 2,364 snaps. 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. person to lead the city, failed to advance to a runoff, earning just 17 . Community has always been core to who we are at Cinespace, and I am deeply proud of the employment and education opportunities weve created.
Film production studio, which could create hundreds of jobs, eyed for Skip to content Reel Chicago News At the Intersection of advertising, TV, film and production REEL PRO The largest provider of sound stages and production support in the region, at 1.4 million square feet - with a total of 29 stages over three major campuses, including purpose built stages with 45 clear heights. Williamson is a native Chicagoan and rose through the ranks of commercial, non-scripted and scripted TV production starting as a production assistant. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. TPGs investment will expand these efforts and provide more jobs for Illinois.. Illinois offers production companies 30% tax credits on production costs and on salaries up to $100,000 through 2026. Your fullest creative potential. CHICAGO (CBS) --Ald. 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.
The family that owns the Cinespace soundstages where - Chicago Tribune By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. The studio was acquired by TPG Real Estate in a deal announced Friday. Lightyears will premiere exclusively on Amazon Prime Video. Cinespace Chicago Film Studio Arts & Culture. They have been the source of incredible Canadian content and a steady job creator for the City and Province. I look forward to partnering with TPG to continue growing this critical industry and seeing what Illinois talent and infrastructure inspires in creatives across our state., Chicago Mayor Lori E. Lightfoot continued: "Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes. Watch. J.B. Pritzker. 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. Thank you Alex for being the best ambassador this film community could ask for. 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. Chicago is not trying to be Hollywood.
Feds' mole's disappearing debt - Chicago Sun-Times 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. Sign up for our Eat. A federal appeals panel has ruled an Illinois state agency didn't violate . Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. 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. Contact Heather Cherone:@HeatherCherone| (773) 569-1863 |[emailprotected].
Alex Pissios On the Future of Cinespace Chicago and His - News Anyway [CDATA[ Sign up for THR news straight to your inbox every day. and Cassels Brock & Blackwell LLP served as legal counsel to Cinespace. 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.. 3.6 million square feet. 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. 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. Stay on top of the latest advertising, film, TV, entertainment and production news. 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. 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. The Cinespace brand is recognized. 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.. Information. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Keith Gee, of LifeStorage, will become another co-managing partner and CFO. Subscribe:Sign up for our FREE e-lert here. 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. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. Every dime we make fundsreportingfrom Chicagos neighborhoods. 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 Chicago Film Studio president Alexander S. "Alex" Pissios at a news conference last February at Cinespace Chicago Film Studio. window.__mirage2 = {petok:"GL3.c8oBr.U4p6a6d_QPYkkKQ28t0k7.ps5ff2XyKPQ-1800-0"}; 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. Today, TREP has $5.3 billion of assets under management. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. 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. 86 active stages. According to the news release, TPG plans to expand upon the program, but did not provide further details. 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. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed ONeill will star in the sci-fi drama. When Hollywood comes to Chicago to film, they do it Chicago style. Thanks for subscribing to Block Club Chicago, an independent, 501(c)(3), journalist-run newsroom. 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. Reporting to Eoin Egan, COO and Co-Managing Partner, she will be responsible for . Friday April 20 2018. 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. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. We also wanted to know or did we? DOWNLOAD THE FOX 32 NEWS APP. 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 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. Michael Scott Jr. (24th), on June 22, 2022. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. 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 . Eastdil Secured provided financing advisory to TREP for the transaction. 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.
Cinespace is up and rolling with 4 new series and more Reel Chicago News Cinespace is the second largest independent sound stage platform in North America with best-in-class studio campuses. Sign up for our morning newsletter to get all of our stories delivered to your mailbox each weekday.
For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visitChicagoFilmStudios.com orCineCaresFoundation.org. 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 on Toy Story 4 and Thor: Ragnarok. 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. Cinespace intends to continue growing its studio base following the transaction. their facilities, and in 2011, Cinespace Chicago Film Studios opened on the 70-acre site of the former Ryerson steel complex. Mayor Lori Lightfoot added, Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes. 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. Illinois has a 30% tax credit that.
Heres How to See the Dazzling Duo, Vallas and Johnson Headed to Chicago Mayoral Runoff, Lightfoot Denied Second Term, Indicted Ald. Forcewill 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. This website uses cookies or other identifiers, which are necessary for its functioning. It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. This timely and provocative drama is set against the systemic abuse that exists in some of our countrys most vulnerable communities.
24th Ward candidates headed to April runoff - Austin Weekly News Every dime we make fundsreportingfrom Chicagos neighborhoods. 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.. To learn more, please refer to the cookie policy. Cinespace Chicago Film Studios welcomes several new productions to its growing campus.. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities.. The series of film studio facilities occupy over 1 million square feet of studio, office and support space on over 40 acres of land. Federal authorities made secret recordings at Cinespace Chicago Film Studios as part of an investigation into a Teamsters union boss who last month was charged with extorting the business, the . 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.". Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. 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. 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 [] At the Intersection of advertising, TV, film and production. In Toronto, Cinespace Film Studios was founded in 1988 by highly revered, (Uncle) Nick Mirkopolous. 24th Ward candidates headed to April runoff. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. 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. Cinespace also has a significant presence in Toronto. Media Contact 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. 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. 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. newsletter here. 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. The Midwests production hot spot and second-largest film studio outside of Los Angeles in North America, 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. 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. "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. Egan most recently was head of production services at Netflix, and Gee was the CEO of Strive and CFO and president of LifeStorage, two former TREP portfolio companies. All Rights Reserved. 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. New production scheduled to film at Cinespace Chicago Film Studios this spring includeLightyears,61stStreet,Power Book IV: Force, and Paper Girls. Keep up with new offerings and opportunities at Cinespace and key developments across our entire industry.
TPG Real Estate Acquires Leading Sound Stage Owner Cinespace Studios Cinespace Studios has sold for $1.1B to TPG Real Estate - ReelChicago.com 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. 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 Studios Sold for $1.1B to TPG Real Estate. I cringe when I hear our town referred to as Hollywood in Chicago. For more information, visit www.tpg.com. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespaces operations in Chicago and Toronto. Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. The Cinespace brand is recognized around the world for the productions filmed on its premises by the most renowned content creation companies. 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. You can accept the use of cookies or other identifiers by closing or clicking the accept button.