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To learn more, please refer to the cookie policy. Monique Scott, 51, said she is preparing to fight for the neighborhood she was raised in. 2023 The Hollywood Reporter, LLC. 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're really happy to have the industry back in action on our campus," said Alex Pissios, president and CEO of Cinespace Chicago Film Studios. 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. At the Intersection of advertising, TV, film and production. Pascal Sabino 1:39 PM CST on Nov 12, 2021 ft. of what use to be the old Ryerson Steel Company. Mirkopoulos and Pissios, with help from Coli and Teamsters lobbyists, were able to secure millions in state funds to acquire the 60-acre site of the former Ryerson Steel and convert it into studio space. Cinespace Chicago Film Studios has been home to NBC's Chicago Fire, Chicago Med and Chicago P.D. Information. An effort to help diversify TV and film crews, CineCares has created a meaningful (and paid) foot in the door for people of color. It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. Cinespace intends to grow its employee base at each studio as a result of the transaction. Clickhereto support Block Clubwith atax-deductible donation. The deal also involves studio space owned by Cinespace in Toronto. 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. 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 is the second largest independent sound stage platform in North America with best-in-class studio campuses. 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. TPG is bullish on the Chicago film scene as well. (StockSnap / Pixabay). 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. newsletter here. 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. Eastdil Secured provided financing advisory to TREP for the transaction. 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. Chicago currently has one other soundstage facility, Chicago Studio City, which is considerably smaller. I cringe when I hear our town referred to as Hollywood in Chicago. 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 . 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. Zach Long. ft. of what use to be the old Ryerson Steel Company. 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, continued Alex Pissios, President and CEO of Cinespace Chicago. how interested you are in the Fire, whose season begins Saturday against New York City FC at Soldier Field. This website uses cookies or other identifiers, which are necessary for its functioning. A federal appeals panel has ruled an Illinois state agency didn't violate . Officials with TPG, a Texas- and California-based buyout firm, did not reveal how much it paid for Cinespaces operations in Chicago and Toronto. 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. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. 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. Chicago is an entity of its own. 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. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. TPG, which also owns a majority stake in the Hollywood talent agency CAA, declined to confirm that figure when contacted by the Tribune. 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. CineCares creates pathways into the film industry for young people on the South and West Sides through job training, education and internships at Cinespace. 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. Cinespace Chicago specializes in the development, management and operation of studio facilities. One of Pissios' deepest passions while CEO of Cinespace was to provide education and job training within the film industry. The CineCares Foundation aims to empower Chicago residents in these communities by creating opportunities for education and employment in the TV and film industry. 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 . Cinespace Chicago Film Studio president Alexander S. "Alex" Pissios at a news conference last February at Cinespace Chicago Film Studio. 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. 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. Jones Lang Lasalle served as financial advisor to TREP. 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. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. Power Book IV: Force, the third spin-off of the popular StarzPower series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. Illinois offers production companies 30% tax credits on production costs and on salaries up to $100,000 through 2026. Lightyears is a sci-fi drama co-produced by Amazon Studios and Legendary Television by writer Holden Miller and producer Daniel C. Connolly. 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. Keith Gee, of LifeStorage, will become another co-managing partner and CFO. One of the projects launched under Pissios tenure is a pipeline program called CineCares. Eoin Egan, who formerly worked as head ofproductionservices at Netflix, will be named Cinespaces new COO, according to Deadline. CineCares Foundation, which was founded by Cinespace Chicago, aims to provide job training and education in the TV and film industry to underserved communities. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. The studio was acquired by TPG Real Estate in a deal announced Friday. Sign up for THR news straight to your inbox every day. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. The Studios also announced four new series filming at its facilities as productions begin to ramp back up with additional health and safety protocols. Were expanding beyond our workforce development program in Chicago to Toronto so stay in touch for updates. NORTH LAWNDALE The film studio where Chicago Fire, Chicago PD, Chicago Med and The Chi are filmed is being sold for $1.1 billion and will stay in Chicago, according to published reports. 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. Lightyears will premiere exclusively on Amazon Prime Video. Skip to content About Us Locations CinecaresNews Contact Log In Cinespace Chicago Cinespace Toronto 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.. Much Shelist P.C. While making deliveries the day after Halloween, the girls become involved in a conflict between two groups of time travelers. "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. 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). Egan and Gee are accomplished executives who have significant experience building and scaling businesses. 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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. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . 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. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq.