Egan and Gee are accomplished executives who have significant experience building and scaling businesses. It was a stunning rebuke. 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.. ft. of what use to be the old Ryerson Steel Company. The Chicago-based chain, which also has locations in Milwaukee, Minneapolis and Dallas, opened the Wicker Park location in 2017. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. This website uses cookies or other identifiers, which are necessary for its functioning. Your pleasant demeanor, warm smiles, and bigger-than-life personality will be sorely missed on campus. A press release from TPG says former Netflix executive Eoin Egan will take over as a co-managing partner and COO. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. For more information, visit www.tpg.com. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. J.B. Pritzker. 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. 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. The Toronto studio launched in 1988. Lightyears will premiere exclusively on Amazon Prime Video. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed ONeill will star in the sci-fi drama. As The Hollywood Reporter noted in August: The studio lot industry is riding high on private equity money as investors bet that the busy facilities boosted by streaming projects will offer better returns than office towers.. Sign up for THR news straight to your inbox every day. [CDATA[ The pop-up runs Friday through the end of March. Clickhereto support Block Clubwith atax-deductible donation. 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. Subscribe for full access to The Hollywood Reporter. Cinespace Chicago Film Studios - DePaul University Sep 2021 - Mar 2022 7 months. Keep up to date with our latest industry news, from across the world. DOWNLOAD THE FOX 32 NEWS APP. 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 on Toy Story 4 and Thor: Ragnarok. 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. 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. Cinespace Chicago Film Studios specializes in the Development, Management & Operation of Studio Facilities. Eoin Egan, who served as the head of production services at Netflix, will serve as the chief operating officer of Cinespace, 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. Our clients create groundbreaking films and television. 2023 The Hollywood Reporter, LLC. Learn More Cinespace Toronto Chicago has a compelling, beautiful cityscape with so much potential. ", The Honourable Doug Ford, Premier of Ontario, said: Since launching in 1988, Cinespace has been a pillar of Torontos world class entertainment industry. Reporting to Eoin Egan, COO and Co-Managing Partner, she will be responsible for . 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. 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. "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 Hollywood Reporter is a part of Penske Media Corporation. Thank you Alex for being the best ambassador this film community could ask for. 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 . When current Illinois Film Office director Peter Hawley was appointed two years ago, he talked about the need for more soundstage space. In 2019, film and television productions generated $560 million in revenue and created more than 15,000 jobs in Illinois, before operations screeched to a halt during the COVID-19 pandemic. I cringe when I hear our town referred to as Hollywood in Chicago. Today's news is good news for Cinespace Studios, our city, and our thriving film sector. Crains Chicago Business reported the sale price as $1.1 billion. Mayor Lori Lightfoot said in a statement she was thrilled Cinespaces new owners plan to expand its workforce. But the latest news, received glee-fully by producers, may deliver still more impetus to Chicago's impressive growth . The story centers around four 12-year-old girls who deliver newspapers. 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 specializes in the development, management, and operation of studio facilities for the film, television, and digital media production industry. Monique Scott, 51, said she is preparing to fight for the neighborhood she was raised in. 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, Illinois, United States . Email Newsroom@BlockClubChi.org. TPG Real Estate has a portfolio of some $5 billion in properties under management, according to the company website. media@tpg.com 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. They have been the source of incredible Canadian content and a steady job creator for the City and Province. Cinespace was initially launched with a sizable Toronto facility in the late 1980s under the stewardship of the late Nick Mirkopoulos. This timely and provocative drama is set against the systemic abuse that exists in some of our country's most vulnerable communities. Cinespaces new owners plan to expand the CineCares Foundation, which offers residents of underserved Chicago neighborhoods job training and education in the television and film industry. It's how we act that makes a difference: we offer education and training to engage, support and contribute to our communities. 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. Skoronski is productive: in three seasons as Northwesterns starting left tackle, he allowed just five sacks in 2,364 snaps. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visitChicagoFilmStudios.com orCineCaresFoundation.org. The CineCare's Foundation Mirkopoulos Internship Program partners with FOX, HBO, NBCUniversal, Wolf Films, and Studio Mechanics Union Local 476. Were expanding beyond our workforce development program in Chicago to Toronto so stay in touch for updates. Today, TREP has $5.3 billion of assets under management. Heres How to See the Dazzling Duo, Vallas and Johnson Headed to Chicago Mayoral Runoff, Lightfoot Denied Second Term, Indicted Ald. Cinespace Chicago Film Studios shoots shows like "Chicago Fire" and "The Chi" at its North Lawndale campus at 2621 W. 15th Place. The program has provided training to local youth and young adults, giving its apprentices the opportunity to work on Cinespace Chicago campus productions. (StockSnap / Pixabay). 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. 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. 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 specializes in . This courtroom drama follows a promising black high school athlete who is swept up into the Chicago criminal justice system. 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 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. Cinespace Chicago opened in 2010 and currently operates 33 stages, with an additional 15 stages undergoing development or conversion on more than 60 acres. 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. Polling Place: Is Patrick Kane the greatest Blackhawk ever. 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. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing partners and COO and CFO, respectively. 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. Every dime we make fundsreportingfrom Chicagos neighborhoods. Thanks for subscribing to Block Club Chicago, an independent, 501(c)(3), journalist-run newsroom. Egan most recently served as Head of Production Services at Netflix, and Gee as the CEO of Strive and CFO and President of LifeStorage, two former TREP portfolio companies. Community has always been core to who we are at Cinespace, and I am deeply proud of the employment and education opportunities weve created. 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. Website. 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. 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. Oscar-winner Sissy Spacek and three-time Emmy-nominated Ed O'Neill will star in the sci-fi drama. 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. Sign up for our free elert here. 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). Founded by the Mirkopoulos family in Toronto together with the Pissios family in Chicago, Cinespace specializes in the development, management, and operation of studio space and support facilities for the film, television, and digital media production industry. 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 . window.__mirage2 = {petok:"GL3.c8oBr.U4p6a6d_QPYkkKQ28t0k7.ps5ff2XyKPQ-1800-0"}; 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. and Cassels Brock & Blackwell LLP served as legal counsel to Cinespace. Cinespace Chicago Film Studio campus in North Lawndale. Chicago Fire, Chicago P.D. and Chicago Med have been the longest tenants at Cinespace, which has over 2 million square feet of space and is located on the campus of the old Ryerson Steel Company on the citys West Side. Having Chicago as acritical link to providing not only quality entertainment, but also good-paying jobs in our community makes all the extra effort to help production companies keep filming worth it.. 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. Subscribe to Block Club Chicago,an independent, 501(c)(3), journalist-run newsroom. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. A federal appeals panel has ruled an Illinois state agency didn't violate . At the Intersection of advertising, TV, film and production. Cinespace intends to grow its employee base at each studio as a result of the transaction. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. 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.. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. In Chicago, Cinespace Chicago Film Studios virtually rose up out of an abandoned steel mill. With the city at capacity, having a private equity firm running Cinespace could lead to growth. I am thrilled to see this acquisition expand our capability for content creation, Lightfoot said. TPGs purchase of Cinespace is not an outlier, but part of a larger trend, thanks to a nationwide shortage of available stage space due to the onslaught of projects demanded by streaming services. 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. 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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. Terms of the transaction were not disclosed. The city's (non) voters are not a monolith but crowded races and low awareness could be keeping them home, voting organizers say. In the ensuing decade, that key facility has grown to include 36 soundstages, helping to bring . Cinespace Chicago Film Studio president Alexander S. "Alex" Pissios at a news conference last February at Cinespace Chicago Film Studio. 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. A global hub for premium content production, services and support that ensures your team reaches their fullest creative potential. On Tuesday, Mayor Lori Lightfoot of Chicago, the first Black woman and first openly L.G.B.T.Q. Mayor Lori Lightfoot added, Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes. Every dime we make fundsreportingfrom Chicagos neighborhoods. Detectives were questioning a person who was inside the home at the time. Friday April 20 2018. Do. Keith Gee, of LifeStorage, will become another co-managing partner and CFO. Sign up for our morning newsletter to get all of our stories delivered to your mailbox each weekday. The deal also involves studio space owned by Cinespace in Toronto. To learn more, please refer to the cookie policy. 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. #mc_embed_signup{background:#fff; clear:left;width:100%;font-weight:normal;}, Beyond Chicago from the Air with Geoffrey Baer, The Great Chicago Fire: A Chicago Stories Special, Surviving R.Kelly: Final Installment Examines Trial and More Details, Chicago Film Critics Break Down Sight and Sounds New Greatest Films of All Time List, Actor and Director Isaiah Washington Brings New Film to Chicago, Starstruck Memories from Chicago International Film Festival Founder, New Chicago-Set Film Highlights Citys Street Art Scene, After Unexpected Death of Her Husband, Naperville Woman Plans to Finish His Documentary, Venus and Jupiter Will Be Side by Side in Wednesdays Night Sky. In true business news nerd fashion, I wanted to find a Valentine's Day angle . 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 welcomes several new productions to its growing campus. It occupies 1.45 million square feet of what use to be the old Ryerson Steel Company. The series of film studio facilities occupy over 1 million square feet of studio, office and support space on over 40 acres of land. Theyve carefully guarded their secret, but when a mysterious young man enters their lives, the couples quiet existence is quickly upended. Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. 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. Having Chicago as a critical link to providing not only quality entertainment, but also good-paying jobs in our community makes all the extra effort to help production companies keep filming worth it.". 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. What to watch. This website uses cookies or other identifiers, which are necessary for its functioning. The studio recently announced it will add up to 19 more soundstages to its campus, about 50 percent more than the studio already has. Terms of the deal were not disclosed, but its understood from a source close to the transaction that the real estate equity investment arm of asset firm TPG paid around $1.1 billion for Cinespace Studios in Chicago and Cinespace Toronto. 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. The soundstages for Dick Wolf's 'Chicago Fire' and Netflix's 'Umbrella Academy' have been picked up by the real estate investor amid a . their facilities, and in 2011, Cinespace Chicago Film Studios opened on the 70-acre site of the former Ryerson steel complex. person to lead the city, failed to advance to a runoff, earning just 17 . TPGs investment will expand these efforts and provide more jobs for Illinois.. 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. He was so successful in this endeavor that CineCares created 7,500 new jobs. One of Pissios' deepest passions while CEO of Cinespace was to provide education and job training within the film industry.
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