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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. 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. Ve el apartamento 3N en alquiler en 1448 S Rockwell St en Chicago, IL desde $1200 y encuentra otros apartamentos disponibles en Chicago. It was a stunning rebuke. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. 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. In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . 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. According to the news release, TPG plans to expand upon the program, but did not provide further details. Skip to content About Us Locations CinecaresNews Contact Log In Cinespace Chicago Cinespace Toronto To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Follow our newsletter to keep up with new offerings and opportunities at Cinespace and key developments across our entire industry. In addition to film production, the campus is home to Stage 18 Chicago, a 501(c) 3 organization and incubator established to retain and grow talent in Chicago. Since its inception in 2009, TREP has built a differentiated investment portfolio comprised primarily of real estate-rich platforms and portfolios located in the United States and Europe. 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. Every dime we make fundsreportingfrom Chicagos neighborhoods. You can accept the use of cookies or other identifiers by closing or clicking the accept button. 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. Illinois has a 30% tax credit that. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. In Chicago, Cinespace Chicago Film Studios virtually rose up out of an abandoned steel mill. Gov. 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 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. 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. 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. Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespace's operations in . The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. 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 . Cinespace Chicago Film Studios specializes in the Development, Management & Operation of Studio Facilities. 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. In Toronto, Cinespace Film Studios was founded in 1988 by highly revered, (Uncle) Nick Mirkopolous. 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. Cinespace Chicago has 33 stages, with an additional 15 stages to be developed or converted on more than 60 acres. 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. The Chicago studio opened in 2010. Lightyears will premiere exclusively on Amazon Prime Video. 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.. The Chicago-based chain, which also has locations in Milwaukee, Minneapolis and Dallas, opened the Wicker Park location in 2017. Block Club Chicago is a nonprofit news organization dedicated to delivering reliable, nonpartisan and essential coverage of Chicagos diverse neighborhoods. All Rights Reserved. Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. When Hollywood comes to Chicago to film, they do it Chicago style. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . Your fullest creative potential. Terms of the deal, and the purchase price, were not mentioned in the release. The Toronto studio launched in 1988. 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 . Leslie Shribman and Courtney Power The deal will also expand Cinespaces social impact work in Chicago by growing the CineCares Foundation, the film studios nonprofit wing. The studio recently announced it will add up to 19 more soundstages to its campus, about 50 percent more than the studio already has. (Colin Boyle/Block Club Chicago) Voters will decide who of the two contenders will take the 24th Ward's aldermanic seat in the April runoff after Monique L. Scott only secured . Chicago's then-Mayor Rahm Emanuel announced the job creation and his appreciation for Cinespace at a news conference on Sept. 1, 2015. Cinespace Chicago Entertainment | Film/Movies. newsletter here. Media Contact He would later help his nephew, Chicago native Alex Pissios, open the North Lawndale branch in 2011, where Pissios has been president and CEO since. 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.. It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. 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. Despite his legal woes and the attention from Colis indictment, Pissios has remained a player in Chicago real estate. Industry veteran Eoin Egan, who most recently was head of production services at Netflix, will join Cinespace as chief operating officer and a co-managing partner. Cinespace Chicago Film Studios has been home to NBC's Chicago Fire, Chicago Med and Chicago P.D. 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. Chicago, Illinois, United States . The two are not related. 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. Mayor Lori Lightfoot said in a statement she was thrilled Cinespaces new owners plan to expand its workforce. Clickhereto support Block Clubwith atax-deductible donation. I am thrilled to see this acquisition expand our capability for content creation, Lightfoot said. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. A federal appeals panel has ruled an Illinois state agency didn't violate . media@tpg.com I want to thank TPG for their commitment and investment in Toronto and the future of Cinespace. You can accept the use of cookies or other identifiers by closing or clicking the accept button. What to eat. For more information, visit www.tpg.com. 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. We also wanted to know or did we? On Friday TPG Real Estate Partners, the real estate arm of the private equity firm TPG, announced plans to acquire Cinespace, the family-run business where the Dick Wolf shows for NBC film. //]]> 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. 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. 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. A TPG official, Keith Gee, will be chief financial officer and the other co-managing partner. The story centers around four 12-year-old girls who deliver newspapers. 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. 24th Ward candidates headed to April runoff. 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. 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. To learn more, please refer to the cookie policy. 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. 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. 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. Cinespace Chicago Film Studio Arts & Culture. In true business news nerd fashion, I wanted to find a Valentine's Day angle . 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. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. Sign up for our free elert here. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. 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. 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. 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.". This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. 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. Friday April 20 2018. TPG Real Estate Partners ("TREP") is the dedicated real estate equity investment platform of global alternative asset firm TPG. Email Newsroom@BlockClubChi.org. One of the projects launched under Pissios tenure is a pipeline program called CineCares. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. 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. I also want to thank the Mirkopoulos family for founding and building up Cinespace here in our city. New programs scheduled to film at Cinespace Chicago Film Studios this spring include Lightyears, 61st Street, Power Book IV: Force, and Paper Girls. 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. Lightyearswill premiere exclusively on Amazon Prime Video. . Today's news is good news for Cinespace Studios, our city, and our thriving film sector. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. During the waning days of Gov. An effort to help diversify TV and film crews, CineCares has created a meaningful (and paid) foot in the door for people of color. 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Cinespace Chicago specializes in . This timely and provocative drama is set against the systemic abuse that exists in some of our countrys most vulnerable communities. 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. Skoronski is productive: in three seasons as Northwesterns starting left tackle, he allowed just five sacks in 2,364 snaps. Key tenants at Cinespace include 312 Fast Draw, AbelCine, Cinelease, DePaul FilmSchool, Keslow Camera, Lagunitas, and Periscope Post & Audio. //