. Jane Williamson joins Cinespace as Head of Studio Operations All Rights Reserved. Much Shelist P.C. Gov. Kirkland & Ellis LLP and Davies Ward Phillips & Vineberg LLP served as legal counsel to TREP. Leslie Shribman and Courtney Power 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. The results of that poll, in a word: Oof. 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. Cinespace sold to buyout firm in deal reportedly worth $1 billion 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. 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. With the city at capacity, having a private equity firm running Cinespace could lead to growth. 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. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. 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. 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). //]]> CineCares is how we support, promote, and engage local communities. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. You can accept the use of cookies or other identifiers by closing or clicking the accept button. A TPG official, Keith Gee, will be chief financial officer and the other co-managing partner. The Cinespace brand is recognized. 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. 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. 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. 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. 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. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. Cinespace Chicago Film Studios has been home to NBC's Chicago Fire, Chicago Med and Chicago P.D. 2621 West 15th Place Chicago, Illinois 60608 Recent News About Cinespace Chicago Appeals panel turns out lights on Chicago film studio's antitrust suit vs IL Film Office By Scott Holland | Friday, Oct 18, 2019 @ 12:27pm. #mc_embed_signup{background:#fff; clear:left;width:100%;font-weight:normal;}, Beyond Chicago from the Air with Geoffrey Baer, The Great Chicago Fire: A Chicago Stories Special, Surviving R.Kelly: Final Installment Examines Trial and More Details, Chicago Film Critics Break Down Sight and Sounds New Greatest Films of All Time List, Actor and Director Isaiah Washington Brings New Film to Chicago, Starstruck Memories from Chicago International Film Festival Founder, New Chicago-Set Film Highlights Citys Street Art Scene, After Unexpected Death of Her Husband, Naperville Woman Plans to Finish His Documentary, Venus and Jupiter Will Be Side by Side in Wednesdays Night Sky. 86 active stages. 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.. On a personal note, the Chicago film community, the recipients of the CineCares Foundation, the Pilsen neighborhood, and the City of Chicago, owe a huge debt of gratitude to Uncle Nick Mirkopolous, Alex Pissios, and the entire Mirkopolous family for having the foresight, determination, talent, expertise, faith, and vision to raise up the Chicago film industry when others have tried and failed. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . 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. //Alex Pissios On the Future of Cinespace Chicago and His - News Anyway 415-743-1550, Internet Explorer presents a security risk. Cinespace Studios Chicago and Toronto aquired by TPG Real Estate in $1 their facilities, and in 2011, Cinespace Chicago Film Studios opened on the 70-acre site of the former Ryerson steel complex. It was a stunning rebuke. Cinespace Toronto VP Jim Mirkopoulos added, The family is incredibly proud of our track record catalyzing economic activity and jobs in Ontario and Illinois, inspiring countless York University and DePaul University film students, and providing the best possible spaces and services to our clients, including for many award-winning projects. ft. of what use to be the old Ryerson Steel Company. Chicago is not trying to be Hollywood. What you need to live your best life now. Cinespace intends to grow its employee base at each studio as a result of the transaction. Mayor Lori Lightfoot commended the investment for the jobs and productions it will bring to the city. 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 specializes in . Productions ramped back up once the city reopened in June. Life on a third straight one-year contract with the mega-talented Astros isnt bad at all. Egan and Gee are accomplished executives who have significant experience building and scaling businesses. News about the Studio and Production Facility Industry | Cinespace The series of film studio facilities occupy over 1 million square feet of studio, office and support space on over 40 acres of land. Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry, Gov. 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. 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. 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. 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Cinespace is the second largest independent sound stage platform in North America with best-in-class studio campuses. Detectives were questioning a person who was inside the home at the time. It is home to Dick Wolfs Chicago-set shows, including the One Chicago series, and Showtimes The Chi.. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. Cinespace Chicago Film Studios | LinkedIn The indie studio operator was founded by the Toronto-based Mirkopoulos family in 1988, and the Chicago campus was launched in 2010. 19 talking about this. Skoronski is productive: in three seasons as Northwesterns starting left tackle, he allowed just five sacks in 2,364 snaps. Follow our newsletter to keep up with new offerings and opportunities at Cinespace - and key developments across our entire industry. 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. Feds' mole's disappearing debt - Chicago Sun-Times Block Club Chicago is a nonprofit news organization dedicated to . New production scheduled to film at Cinespace Chicago Film Studios this spring includeLightyears,61stStreet,Power Book IV: Force, and Paper Girls. Thanks for subscribing to Block Club Chicago, an independent, 501(c)(3), journalist-run newsroom. J.B. Pritzker. On Tuesday, Mayor Lori Lightfoot of Chicago, the first Black woman and first openly L.G.B.T.Q. 3.6 million square feet. Every dime we make fundsreportingfrom Chicagos neighborhoods. 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. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. 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. It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. Clickhereto support Block Clubwith atax-deductible donation. Key tenants at Cinespace include 312 Fast Draw, AbelCine, Cinelease, DePaul FilmSchool, Keslow Camera, Lagunitas, and Periscope Post & Audio. Keep up to date with our latest industry news, from across the world. 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. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. TPG Real Estate Buys Cinespace Toronto, Chicago Studios for $1.1 To learn more, please refer to the cookie policy. J.B. Pritzker said in the TPG statement. Cinespace Studios Sold to Private Equity Firm | Chicago News | WTTW Chicago is an entity of its own. In true business news nerd fashion, I wanted to find a Valentine's Day angle . I am thrilled to see this acquisition expand our capability for content creation and look forward to the jobs and production it will bring to our region.. 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. CHICAGO, April 21, 2021 (GLOBE NEWSWIRE) -- The film industry in Chicago is back up and rolling! During the waning days of Gov. Cinespace intends to grow its employee base in Chicago and Toronto, officials said. Cinespace Chicago Film Studios Welcomes New Productions, Expands TPGs investment will expand these efforts and provide more jobs for Illinois.. Cinespace also has a significant presence in Toronto. 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. Ve el apartamento 3N en alquiler en 1448 S Rockwell St en Chicago, IL desde $1200 y encuentra otros apartamentos disponibles en Chicago. 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. Founded by the Mirkopoulos family in Toronto together with the Pissios family in Chicago, Cinespace specializes in the development, management, and operation of studio space and support facilities for the film, television, and digital media production industry. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . Chicago currently has one other soundstage facility, Chicago Studio City, which is considerably smaller. According to the news release, TPG . . 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 welcomes several new productions to its growing campus. 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. Jones Lang Lasalle served as financial advisor to TREP. Today In The Culture, March 2, 2023: Duck Pop-Up | Lettuce Entertains Monique Scott needed more than 50 percent of the vote to avoid a runoff. Cinespace Chicago Film Studio president Alexander S. "Alex" Pissios at a news conference last February at Cinespace Chicago Film Studio. 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. Thank you Alex for being the best ambassador this film community could ask for. Power Book IV: Force, the third spin-off of the popular StarzPower series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. 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 studio recently announced it will add up to 19 more soundstages to its campus, about 50 percent more than the studio already has. Opinion | The Spectacular Fall of Lori Lightfoot - The New York Times CineCares creates pathways into the film industry for young people on the South and West Sides through job training, education and internships at Cinespace. One of Pissios' deepest passions while CEO of Cinespace was to provide education and job training within the film industry. 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. 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. 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. 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. 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. Skip to content About Us Locations CinecaresNews Contact Log In Cinespace Chicago Cinespace Toronto TPG Real Estate Buys Cinespace Toronto, Chicago Studios for $1.1 Cinespace Studios Sold for $1.1B to TPG Real Estate. What to watch. Lightyears will premiere exclusively on Amazon Prime Video. I am thrilled to see this acquisition expand our capability for content creation, Lightfoot said. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. This website uses cookies or other identifiers, which are necessary for its functioning. The acquisition is expected to accelerate the growth of Chicagos thriving film industry and bring more production jobs to the area, said Avi Banyasz, co-head of TPG Real Estate. One of the projects launched under Pissios tenure is a pipeline program called CineCares. "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. I cringe when I hear our town referred to as Hollywood in Chicago. 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. 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.