cinespace chicago news

With the city at capacity, having a private equity firm running Cinespace could lead to growth. 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. 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. Crains Chicago Business reported the sale price as $1.1 billion. 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. From Road to Avonlea to Best Picture Oscar winner Chicago, Pompeii and The Strain, Cinespaces model of large, functional spaces and expert client service continues to make Toronto and Cinespace the premier destination for film and TV production in Canada. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. At the Intersection of advertising, TV, film and production. 24th Ward candidates headed to April runoff. 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. 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). CHICAGO, April 21, 2021 (GLOBE NEWSWIRE) -- The film industry in Chicago is back up and rolling! media@tpg.com 415-743-1550, Internet Explorer presents a security risk. Detectives were questioning a person who was inside the home at the time. 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. News about Cinespace Chicago | Cook County Record 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. Poles needs to make sure Eberflus maintains significant input. An effort to help diversify TV and film crews, CineCares has created a meaningful (and paid) foot in the door for people of color. When current Illinois Film Office director Peter Hawley was appointed two years ago, he talked about the need for more soundstage space. TPGs investment will expand these efforts and provide more jobs for Illinois.. The studio has about 33 sound stages and recently announced it will add up to 19 more soundstages to its campus. 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 Chicago Film Studios | Chicago IL - Facebook 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. This timely and provocative drama is set against the systemic abuse that exists in some of our country's most vulnerable communities. 3.6 million square feet. TPG Real Estate Acquired Cinespace Studios In Chicago And - Deadline Got a story tip? 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. Contact | Cinespace 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.. Subscribe:Sign up for our FREE e-lert here. Life on a third straight one-year contract with the mega-talented Astros isnt bad at all. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as Co-Managing Partners and COO and CFO, respectively. Pissios was not able to disclose the terms of the deal, but it is understood from a source close to the transaction that TPG paid around $1.1 billion for Cinespace Studios in Chicago and Cinespace Toronto. Cinespace Chicago Film Studios has been home to NBCs Chicago Fire, Chicago Med and Chicago P.D. Monique Scott was sworn into City Council to replace her brother, former Ald. 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. 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. ft. of what use to be the old Ryerson Steel Company. 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 Film Studios specializes in the Development, Management & Operation of Studio Facilities. 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. Jane Williamson joins Cinespace as Head of Studio Operations 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. newsletter here. Skoronski is productive: in three seasons as Northwesterns starting left tackle, he allowed just five sacks in 2,364 snaps. In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . 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. 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. The deal also involves studio space owned by Cinespace in Toronto. Cinespace Chicago specializes in the development, management, and operation of studio facilities for the film, television, and digital media production industry. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . 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. 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 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. Thank you Alex for being the best ambassador this film community could ask for. Your fullest creative potential. This timely and provocative drama is set against the systemic abuse that exists in some of our countrys most vulnerable communities. Cinespace Chicago Film Studios Being Sold For $1 Billion You can accept the use of cookies or other identifiers by closing or clicking the accept button. He was so successful in this endeavor that CineCares created 7,500 new jobs. Every dime we make fundsreportingfrom Chicagos neighborhoods. The indie studio operator was founded by the Toronto-based Mirkopoulos family in 1988, and the Chicago campus was launched in 2010. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities. TPG is bullish on the Chicago film scene as well. Cinespace also has a significant presence in Toronto. 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. 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. (StockSnap / Pixabay). Cinespace is up and rolling with 4 new series and more Reel Chicago News Chicago is an entity of its own. DOWNLOAD THE FOX 32 NEWS APP. Cinespace Chicago Film Studios Welcomes New Productions, Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespaces operations in Chicago and Toronto. Clickhereto support Block Clubwith atax-deductible donation. For more information or to contract studio or business space at Cinespace, visit the website at ChicagoFilmStudios.com. 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.. Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry, Gov. It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. The Cinespace brand is recognized around the world for the productions filmed on its premises by the most renowned content creation companies. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. 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. It is home to Dick Wolfs Chicago-set shows, including the One Chicago series, and Showtimes The Chi.. Alexander Pissios, President of Cinespace Chicago Film Studios joins Steve Bertrand on Chicago's Afternoon News to talk about his plan to expand its studios by 50% by the end of 2021. 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. Despite his legal woes and the attention from Colis indictment, Pissios has remained a player in Chicago real estate. 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.. 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. Follow our newsletter to keep up with new offerings and opportunities at Cinespace - and key developments across our entire industry. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. 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. Cinespace Studios Chicago and Toronto aquired by TPG Real Estate in $1 Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. Cinespace Chicago Film Studio Arts & Culture. 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 deal includes both the Chicago and Toronto locations, which have more than 50 soundstages combined. Cinespace intends to grow its employee base at each studio as a result of the transaction. "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. 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. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. Jones Lang Lasalle served as financial advisor to TREP. Cinespace intends to grow its employee base in Chicago and Toronto, officials said. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. Skip to content About Us Locations CinecaresNews Contact Log In Cinespace Chicago Cinespace Toronto Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. To learn more, please refer to the cookie policy. 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 [] Cinespace Chicago has 33 stages, with an additional 15 stages to be developed or converted on more than 60 acres. Cinespace Chicago Film Studios Welcomes New Productions, Expands 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 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. The Hollywood Reporter is a part of Penske Media Corporation. J.B. Pritzker. The company launched in Toronto in 1988 and today operates 23 production stages across the city, with another 12 stages planned for development on more than 40 acres. (Brian Cassella / Chicago Tribune). Pascal Sabino 1:39 PM CST on Nov 12, 2021 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. 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. What to watch. 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.. Subscribe for full access to The Hollywood Reporter. Heres How to See the Dazzling Duo, Vallas and Johnson Headed to Chicago Mayoral Runoff, Lightfoot Denied Second Term, Indicted Ald. This website uses cookies or other identifiers, which are necessary for its functioning. Bridgeport bank failure fallout: Washington Federal Bank for Savings After a Covid-19 hiatus, Chicago's film industry is back up and running, with local film studio Cinespace Chicago adding more than 100,000 square feet of production space to keep up with demand. Keep up to date with our latest industry news, from across the world. . Terms of the transaction were not disclosed. Sources: Feds made recordings at Cinespace Chicago - Chicago Tribune 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. The Studios also announced four new series filming at its facilities as productions begin to ramp back up with additional health and safety protocols. TPG, which also owns a majority stake in the Hollywood talent agency CAA, declined to confirm that figure when contacted by the Tribune. 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.". 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. Watch. Illinois Governor JB Pritzker commented: Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry. 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. 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 . Do. //]]> Block Club Chicago is a nonprofit news organization dedicated to . Cinespace announced in April plans to add 16 sound stages to its campus on the citys Southwest Side, with Pissios at the time telling Crains that the studio had to turn away projects, and that the expansion would add some 1,200 jobs in the local film industry. Much Shelist P.C. TPG Real Estate, a Texas- and California-based firm, bought the Chicago studio along with Cinespace Toronto for an estimated $1.1 billion, Deadline reports. 2023 The Hollywood Reporter, LLC. They've carefully guarded their secret, but when a mysterious young man enters their lives, the couples' quiet existence is quickly upended. Cinespace Studios has sold for $1.1B to TPG Real Estate - ReelChicago.com Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. The GM and coach seem to be more cohesive than Ryan Pace was with Matt Nagy and John Fox. Launched in Chicago in 2010 by the Pissios family, Cinespace Chicago operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres near Douglass Park. Cinespace Chicago Entertainment | Film/Movies. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. Cinespace Toronto has 23 production stages across the city, with another 12 stages planned for development on more than 40 acres. Chicago has a compelling, beautiful cityscape with so much potential. Pissios cooperation earned him a non-prosecution deal with federal prosecutors on fraud charges tied to his 2011 personal bankruptcy. Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. J.B. Pritzker said in the TPG statement. Productions ramped back up once the city reopened in June. Sign up for our free elert here. Cinespace is building a Hollywood-style studio - Time Out Chicago Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. We welcome this acquisition by TPG and look forward to their continued investment in Cinespace and commitment to growing their operations in Toronto. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. 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. New programs scheduled to film at Cinespace Chicago Film Studios this spring include Lightyears, 61st Street, Power Book IV: Force, and Paper Girls. 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. 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. ft. of what use to be the old Ryerson Steel Company. 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. The story centers around four 12-year-old girls who deliver newspapers. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. A press release from TPG says former Netflix executive Eoin Egan will take over as a co-managing partner and COO. The bar will host a flip cup tournament, trivia nights and, of course, a St. Patrick's Day bash. Your pleasant demeanor, warm smiles, and bigger-than-life personality will be sorely missed on campus. 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. CineCares creates pathways into the film industry for young people on the South and West Sides through job training, education and internships at Cinespace. Ald. Michael Scott Jr. resigning from City Council, joining Cinespace

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