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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. General Inquiries 773.521.8000 studioinfo@cinespace.com The studio recently announced it will add up to 19 more soundstages to its campus, about 50 percent more than the studio already has. Sign up for THR news straight to your inbox every day. News about the Studio and Production Facility Industry | Cinespace Cinespace Chicago Film Studio | Enjoy Illinois 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. 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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. Chicago is not trying to be Hollywood. Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. The program has provided training to local youth and young adults, giving its apprentices the opportunity to work on Cinespace Chicago campus productions. Subscribe:Sign up for our FREE e-lert here. 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. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. TPG Real Estate Acquired Cinespace Studios In Chicago And - Deadline To learn more, please refer to the cookie policy. The comic book series will bring a lot of excitement to the small screen exploring everything from time travel between different centuries, future versions of characters, and the question of whether or not the past can or should be changed by time travelers. 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 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. Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. . 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. Cinespace Chicago Entertainment | Film/Movies. I cringe when I hear our town referred to as Hollywood in Chicago. 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. The studio has about 33 sound stages and recently announced it will add up to 19 more soundstages to its campus. 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. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visit ChicagoFilmStudios.com or CineCaresFoundation.org. 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. 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. 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. 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. According to the news release, TPG plans to expand upon the program, but did not provide further details. At the Intersection of advertising, TV, film and production. Key tenants at Cinespace include 312 Fast Draw, AbelCine, Cinelease, DePaul FilmSchool, Keslow Camera, Lagunitas, and Periscope Post & Audio. 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.. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. 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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. You can accept the use of cookies or other identifiers by closing or clicking the accept button. 3.6 million square feet. Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. 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. ft. of what use to be the old Ryerson Steel Company. Cinespace Chicago Film Studios Being Sold For $1 Billion By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. The two are not related. Apartamentos.com cuenta con recorridos en 3D, videos en alta definicin, reseas y mucha ms informacin verificada que el resto de las pginas de alquileres. Keep up to date with our latest industry news, from across the world. Cinespace Studios has sold for $1.1B to TPG Real Estate - ReelChicago.com Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry, Gov. Illinois offers production companies 30% tax credits on production costs and on salaries up to $100,000 through 2026. 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. 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. This timely and provocative drama is set against the systemic abuse that exists in some of our countrys most vulnerable communities. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing partners and COO and CFO, respectively. Clickhereto support Block Clubwith atax-deductible donation. 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.. (StockSnap / Pixabay). Email Newsroom@BlockClubChi.org. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. Teagan Pompa - Senior Studio Technician - Cinespace Chicago Film Thanks for subscribing to Block Club Chicago, an independent, 501(c)(3), journalist-run newsroom. Opinion | The Spectacular Fall of Lori Lightfoot - The New York Times In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. Jane Williamson joins Cinespace as Head of Studio Operations 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. During the waning days of Gov. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . Learn More Cinespace Toronto Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Box Office: Michael B. 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Life on a third straight one-year contract with the mega-talented Astros isnt bad at all. 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. 24th Ward candidates headed to April runoff. 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. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Its a done deal! said Pissios. It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. Outlets including Crains Chicago Business and Deadline.com are reporting a sale price of $1 billion. Illinois Governor JB Pritzker commented: Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming 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. 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. Monique Scott needed more than 50 percent of the vote to avoid a runoff. Cinespace Chicago specializes in the development, management and operation of studio facilities. The story centers around four 12-year-old girls who deliver newspapers. Heres How to See the Dazzling Duo, Vallas and Johnson Headed to Chicago Mayoral Runoff, Lightfoot Denied Second Term, Indicted Ald. 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). 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.". CHICAGO (CBS) --Ald. Eoin Egan, who formerly worked as head ofproductionservices at Netflix, will be named Cinespaces new COO, according to Deadline. Cinespace Chicago Film Studios Welcomes New Productions, Expands Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. Chicago's then-Mayor Rahm Emanuel announced the job creation and his appreciation for Cinespace at a news conference on Sept. 1, 2015. 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 . TPG Real Estate Partners ("TREP") is the dedicated real estate equity investment platform of global alternative asset firm TPG. "Jane has worked on the Cinespace lot for many years in several different roles and understands the needs of a production and the Chicago film and TV community," Egan says in a release. 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. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. Key developments evolving in sale of Brauer Museum artwork by Valparaiso University, Its Chicagos fake birthday: Here are 30 essential foods and drinks to celebrate, from Rainbow Cone to Malrt, Carol Stream man, 35, dies in custody at Cook County Jail, officials say, Do Not Sell/Share My Personal Information. They've carefully guarded their secret, but when a mysterious young man enters their lives, the couples' quiet existence is quickly upended. Film production studio, which could create hundreds of jobs, eyed for 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. 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. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. "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. The deal also involves studio space owned by Cinespace in Toronto. 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. 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 . J.B. Pritzker. 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. The results of that poll, in a word: Oof. ", The Honourable Doug Ford, Premier of Ontario, said: Since launching in 1988, Cinespace has been a pillar of Torontos world class entertainment industry. Monique Scott was sworn into City Council to replace her brother, former Ald. According to Crains Chicago Business, TPG, in a statement, has confirmed that its TPG Real Estate Partners unit has made the acquisition. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. 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. (Brian Cassella / Chicago Tribune). Pissios went on to be president of Cinespace Chicago Film Studios, the post he held when federal prosecutors accused him of failing to disclose all of his assets in his bankruptcy and got him to . Kirkland & Ellis LLP and Davies Ward Phillips & Vineberg LLP served as legal counsel to TREP. J.B. Pritzker said in the TPG statement. Polling Place: Is Patrick Kane the greatest Blackhawk ever.