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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. 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. 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. We welcome this acquisition by TPG and look forward to their continued investment in Cinespace and commitment to growing their operations in Toronto. 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. 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. The deal also involves studio space owned by Cinespace in Toronto. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visit ChicagoFilmStudios.com or CineCaresFoundation.org. Michael Scott Jr. (24th), on June 22, 2022. Keith Gee, of LifeStorage, will become another co-managing partner and CFO. Pissios cooperation earned him a non-prosecution deal with federal prosecutors on fraud charges tied to his 2011 personal bankruptcy. 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. This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. 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. Returning series filming at the Chicago campus includeChicago Fire, Season 9;Chicago P.D., Season 8;Chicago Med, Season 6; andThe Chi, Season 4; South Side, Season 2; andThe Big Leap. 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 family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. 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. One of the projects launched under Pissios tenure is a pipeline program called CineCares. 19 talking about this. CHICAGO (CBS) --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. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. 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. As production begin to ramp back up the studio continues to strictly follow health and safetybest practices from the CDC andIllinois Guidance. Subscribe for full access to The Hollywood Reporter. Egan and Gee are accomplished executives who have significant experience building and scaling businesses. You can accept the use of cookies or other identifiers by closing or clicking the accept button. Subscribe:Sign up for our FREE e-lert here. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. 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. Chicago is an entity of its own. Follow our newsletter to keep up with new offerings and opportunities at Cinespace - and key developments across our entire industry. 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. One of the most storied studio complexes in the world, offering 21 sound stages rich in history, with vast production facilities and second-to-none production services that have been utilized by legendary filmmakers. Mayor Lori Lightfoot commended the investment for the jobs and productions it will bring to the city. 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. CHICAGO, April 21, 2021 (GLOBE NEWSWIRE) -- The film industry in Chicago is back up and rolling! 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. J.B. Pritzker said in the TPG statement. Were expanding beyond our workforce development program in Chicago to Toronto so stay in touch for updates. When Hollywood comes to Chicago to film, they do it Chicago style. According to the news release, TPG plans to expand upon the program, but did not provide further details. Cinespace Chicago Film Studio Arts & Culture. Cinespace intends to grow its employee base in Chicago and Toronto, officials said. "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. Lightyears will premiere exclusively on Amazon Prime Video. This timely and provocative drama is set against the systemic abuse that exists in some of our country's most vulnerable communities. What you need to live your best life now. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed ONeill will star in the sci-fi drama. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespaces operations in Chicago and Toronto. Crains Chicago Business reported the sale price as $1.1 billion. 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. The CineCares Foundation aims to empower Chicago residents in these communities by creating opportunities for education and employment in the TV and film industry. 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.. 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 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. ft. of what use to be the old Ryerson Steel Company. It was a stunning rebuke. 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. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. 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.". Do. According to the news release, TPG . The results of that poll, in a word: Oof. 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. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. 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 GM and coach seem to be more cohesive than Ryan Pace was with Matt Nagy and John Fox. 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. 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. 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. 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. Jones Lang Lasalle served as financial advisor to TREP. I am thrilled to see this acquisition expand our capability for content creation, Lightfoot said. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Skip to content About Us Locations CinecaresNews Contact Log In Cinespace Chicago Cinespace Toronto 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 . Power Book IV: Force, the third spin-off of the popular StarzPower series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. It is home to Dick Wolfs Chicago-set shows, including the One Chicago series, and Showtimes The Chi.. The Cinespace brand is recognized. We also wanted to know or did we? State grants heavily financed Cinespaces expansion into Chicago under Pissios uncle, Nick Mirkopoulos, who founded Cinespace in Toronto in the 1980s. 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. 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. As a Cinespace executive, Pissios also wore a wire on former Teamsters boss John Coli Sr., who pleaded guilty to extorting more than $300,000 from the company to maintain labor peace at the studio. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. 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 Studios announces that Jane Williamson will join the company as Head of Client Services & Studio Operations in Chicago.Nick Pissios will be leaving the position.. Jane was most recently Production Supervisor on season 2 of Lionsgate TV's Power Book IV: Force and Legendary Entertainment's Night Sky. 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Sign up for THR news straight to your inbox every day. Were really happy to have the industry back in action on our campus, said Alex Pissios, president and CEO of Cinespace Chicago Film Studios. 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. Cinespace Chicago Film Studios has been home to NBCs Chicago Fire, Chicago Med and Chicago P.D. 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. I cringe when I hear our town referred to as Hollywood in Chicago. Cinespace Chicago has 33 stages, with an additional 15 stages to be developed or converted on more than 60 acres. Keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. Sign up for our free elert here. 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. Lightyearswill premiere exclusively on Amazon Prime Video. With the city at capacity, having a private equity firm running Cinespace could lead to growth. In Toronto, Cinespace Film Studios was founded in 1988 by highly revered, (Uncle) Nick Mirkopolous. 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. TPG Real Estate has a portfolio of some $5 billion in properties under management, according to the company website. As the Dick Wolf, One Chicago series prepares to wrap soon for the season, Cinespace announced four new series filming at its facilities. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. 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. I want to thank TPG for their commitment and investment in Toronto and the future of Cinespace. 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. 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.. ft. of what use to be the old Ryerson Steel Company. Poles needs to make sure Eberflus maintains significant input. 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. 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. Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . Chicago has a compelling, beautiful cityscape with so much potential. 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. 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. how interested you are in the Fire, whose season begins Saturday against New York City FC at Soldier Field. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. Today's news is good news for Cinespace Studios, our city, and our thriving film sector. Eoin Egan, who formerly worked as head ofproductionservices at Netflix, will be named Cinespaces new COO, according to Deadline. 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. [CDATA[ Contact Heather Cherone:@HeatherCherone| (773) 569-1863 |[emailprotected]. The deal includes both the Chicago and Toronto locations, which have more than 50 soundstages combined. J.B. Pritzker. . A TPG official, Keith Gee, will be chief financial officer and the other co-managing partner. He was so successful in this endeavor that CineCares created 7,500 new jobs. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. media@tpg.com 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. Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. 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. Chicago currently has one other soundstage facility, Chicago Studio City, which is considerably smaller. newsletter here. The Chicago studio opened in 2010. Detectives were questioning a person who was inside the home at the time. Heres How to See the Dazzling Duo, Vallas and Johnson Headed to Chicago Mayoral Runoff, Lightfoot Denied Second Term, Indicted Ald. Friday April 20 2018. CineCares is how we support, promote, and engage local communities. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. //