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Follow Your Favorite Chicago's Afternoon News Personalities on Twitter:Follow @SteveBertrand Follow @kpowell720 Follow @maryvandeveldeFollow @LaurenLapka Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. The film operation at The Fields would be a smaller version of the Cinespace Chicago Film Studios campus on the West Side, where TV shows and movies are filmed and produced. 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.. Your pleasant demeanor, warm smiles, and bigger-than-life personality will be sorely missed on campus. Executive producer Michael B. Jordan (Black Panther) is already shooting the AMC drama series 61st Street at Cinespace Chicago Film Studios. The Toronto studio launched in 1988. At the Intersection of advertising, TV, film and production. Chicago currently has one other soundstage facility, Chicago Studio City, which is considerably smaller. I am thrilled to see this acquisition expand our capability for content creation and look forward to the jobs and productions it will bring to our region. Keep up to date with our latest industry news, from across the world. J.B. Pritzker. Eoin Egan, who served as the head of production services at Netflix, will serve as the chief operating officer of Cinespace, officials said. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visitChicagoFilmStudios.com orCineCaresFoundation.org. Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. The statement also includes praise from Mayor Lori Lightfoot and Gov. Cinespace Chicago specializes in the development, management and operation of studio facilities. 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. We also wanted to know or did we? Box Office: Michael B. Jordans Creed III Grabbing Title With Series-Best $51M Opening, Lionsgate Dealmakers Michael Burns, Brian Goldsmith Extend Contracts, Jefferson White, Adeline Rudolph Join Hellboy Movie The Crooked Man, Jonathan Krisel in Talks to Direct Pokmon: Detective Pikachu Sequel, Zedd's Striking Beverly Hills Mansion Finally Sells to Kenya Barris, Jennifer Lopez Lists Bel Air Mansion for $42.5M Complete With an Outdoor Amphitheater for Home Concerts, John Malone and Charter Directors Reach $87.5M Deal to Settle Investor Suit, Rupert Murdoch, Fox Corp. 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"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 studio was acquired by TPG Real Estate in a deal announced Friday. 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. Every dime we make fundsreportingfrom Chicagos neighborhoods. (StockSnap / Pixabay). The series of film studio facilities occupy over 1 million square feet of studio, office and support space on over 40 acres of land. I also want to thank the Mirkopoulos family for founding and building up Cinespace here in our city. 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. 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. CHICAGO, April 21, 2021 (GLOBE NEWSWIRE) -- The film industry in Chicago is back up and rolling! 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. For more information or to contract studio or business space at Cinespace, visit the website at ChicagoFilmStudios.com. The GM and coach seem to be more cohesive than Ryan Pace was with Matt Nagy and John Fox. The deal also involves studio space owned by Cinespace in Toronto. Sign up for THR news straight to your inbox every day. 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. They have been the source of incredible Canadian content and a steady job creator for the City and Province. 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.. 24th Ward candidates headed to April runoff. 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. Pascal Sabino 1:39 PM CST on Nov 12, 2021 What you need to live your best life now. They've carefully guarded their secret, but when a mysterious young man enters their lives, the couples' quiet existence is quickly upended. When Hollywood comes to Chicago to film, they do it Chicago style. In Chicago, Cinespace Chicago Film Studios virtually rose up out of an abandoned steel mill. 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. 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. 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. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . He was so successful in this endeavor that CineCares created 7,500 new jobs. One of Pissios' deepest passions while CEO of Cinespace was to provide education and job training within the film industry. The studio recently announced it will add up to 19 more soundstages to its campus, about 50 percent more than the studio already has. their facilities, and in 2011, Cinespace Chicago Film Studios opened on the 70-acre site of the former Ryerson steel complex. 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. I am thrilled to see this acquisition expand our capability for content creation, Lightfoot said. 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. Cinespace Chicago Film Studios shoots shows like "Chicago Fire" and "The Chi" at its North Lawndale campus at 2621 W. 15th Place. In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . Information. 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. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed ONeill will star in the sci-fi drama. //]]> DOWNLOAD THE FOX 32 NEWS APP. 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. Cinespace Toronto has 23 production stages across the city, with another 12 stages planned for development on more than 40 acres. The deal will also expand Cinespaces social impact work in Chicago by growing the CineCares Foundation, the film studios nonprofit wing. What to eat. Reporting to Eoin Egan, COO and Co-Managing Partner, she will be responsible for . As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. I want to thank TPG for their commitment and investment in Toronto and the future of Cinespace. 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. Got a story tip? As part of Cinespace's commitment to the neighborhood, the family established CineCares Foundation to train and employ area residents through education and job training in TV & Film. Power Book IV: Force, the third spin-off of the popular StarzPower series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. This website uses cookies or other identifiers, which are necessary for its functioning. This website uses cookies or other identifiers, which are necessary for its functioning. 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 . 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. 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. SAN FRANCISCO & FORT WORTH, Texas--(BUSINESS WIRE)--TPG Real Estate Partners ("TREP"), the dedicated real estate equity investment platform of alternative asset firm TPG, today announced that it has acquired Cinespace Studios in Chicago and Toronto (Cinespace). Michael Scott Jr. (24th), on June 22, 2022. . 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 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 Chicago Film Studios specializes in the Development, Management & Operation of Studio Facilities. Monique Scott, 51, said she is preparing to fight for the neighborhood she was raised in. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespaces operations in Chicago and Toronto. Cinespace intends to grow its employee base at each studio as a result of the transaction. It was a stunning rebuke. ", The Honourable Doug Ford, Premier of Ontario, said: Since launching in 1988, Cinespace has been a pillar of Torontos world class entertainment industry. Chicago is an entity of its own. He has the pedigree, too: his grandfather Bob was a left tackle and offensive captain on Packers teams that won five NFL championships from 1961-67. Sign Up:Stay on top of the latest film, TV, advertising, entertainment and production news! 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. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. Consumer appetite for original content is a growing secular tend 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, TPG co-head of Real Estate Avi Banyasz said in the statement. media@tpg.com 3.6 million square feet. With the city at capacity, having a private equity firm running Cinespace could lead to growth. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. Leslie Shribman and Courtney Power 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. Pissios cooperation earned him a non-prosecution deal with federal prosecutors on fraud charges tied to his 2011 personal bankruptcy. They were among the real pioneers in building something special in our city - they have helped me champion the local industry and attract new jobs and investments here. Today, TREP has $5.3 billion of assets under management. Force is set on Chicago's 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. TPG, which also owns a majority stake in the Hollywood talent agency CAA, declined to confirm that figure when contacted by the Tribune. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visit ChicagoFilmStudios.com or CineCaresFoundation.org. It's how we act that makes a difference: we offer education and training to engage, support and contribute to our communities. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. Block Club Chicago is a nonprofit news organization dedicated to . The Studios also announced four new series filming at its facilities as productions begin to ramp back up with additional health and safety protocols. 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 Chi, Lightyears,61stStreet,Power Book IV: Force, Paper Girls, South Side, andThe Big Leap. 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. J.B. Pritzker said in the TPG statement. Block Club Chicago is a nonprofit news organization dedicated to delivering reliable, nonpartisan and essential coverage of Chicagos diverse neighborhoods. 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 . The story centers around four 12-year-old girls who deliver newspapers. 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. Our clients create groundbreaking films and television. The CineCare's Foundation Mirkopoulos Internship Program partners with FOX, HBO, NBCUniversal, Wolf Films, and Studio Mechanics Union Local 476. Its a done deal! said Pissios. Ashlee Rezin Garcia / Sun-Times Alexander S. Pissios, president of Chicago's largest movie studio, had gone bankrupt but was still more than $1 million in debt when federal agents showed up three years ago. The bar will host a flip cup tournament, trivia nights and, of course, a St. Patrick's Day bash. At the Intersection of advertising, TV, film and production. person to lead the city, failed to advance to a runoff, earning just 17 . Key tenants at Cinespace include 312 Fast Draw, AbelCine, Cinelease, DePaul FilmSchool, Keslow Camera, Lagunitas, and Periscope Post & Audio. 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. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. Carrie Austin Resigns from City Council After 29 Years in Office, Why Will County Residents Are Fighting a Major Logistics Hub and Why Backers Say Its Needed, Control of Chicago City Council Up for Grabs as Aldermanic Runoffs Loom. Mayor Lori Lightfoot said in a statement she was thrilled Cinespaces new owners plan to expand its workforce. //

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