Sign up for THR news straight to your inbox every day. They have been the source of incredible Canadian content and a steady job creator for the City and Province. window.__mirage2 = {petok:"GL3.c8oBr.U4p6a6d_QPYkkKQ28t0k7.ps5ff2XyKPQ-1800-0"}; 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. The furtive chamber they thought they knew so well turns out to be much more than they could ever have imagined. The studio was acquired by TPG Real Estate in a deal announced Friday. 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 . He was so successful in this endeavor that CineCares created 7,500 new jobs. Your pleasant demeanor, warm smiles, and bigger-than-life personality will be sorely missed on campus. 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. Chicago currently has one other soundstage facility, Chicago Studio City, which is considerably smaller. The deal will also expand Cinespaces social impact work in Chicago by growing the CineCares Foundation, the film studios nonprofit wing. Pascal Sabino 1:39 PM CST on Nov 12, 2021 Block Club Chicago is a nonprofit news organization dedicated to . Community has always been core to who we are, said Alex Pissios, CEO of Cinespace. According to the news release, TPG plans to expand upon the program, but did not provide further details. Illinois is proud to welcome TPGs investment in Cinespace and Illinois booming film industry, Gov. The family-owned Cinespace Chicago Film Studios in North Lawndale has been sold to private equity firm TPG. Cinespace Chicago Film Studios - DePaul University Sep 2021 - Mar 2022 7 months. Reporting to Eoin Egan, COO and Co-Managing Partner, she will be responsible for . Since opening in 2011, Cinespace has helped bring more than 15,000 new jobs to the area. 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. 86 active stages. The CineCare's Foundation Mirkopoulos Internship Program partners with FOX, HBO, NBCUniversal, Wolf Films, and Studio Mechanics Union Local 476. 2023 The Hollywood Reporter, LLC. 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. 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. For more information, visit www.tpg.com. 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. Cinespace Chicago Entertainment | Film/Movies. Eastdil Secured provided financing advisory to TREP for the transaction. One of Pissios' deepest passions while CEO of Cinespace was to provide education and job training within the film industry. 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. 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. According to the news release, TPG . Much Shelist P.C. 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). Community has always been core to who we are at Cinespace, and I am deeply proud of the employment and education opportunities weve created. (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 . 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.". 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.. Website. 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. Every dime we make fundsreportingfrom Chicagos neighborhoods. 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 . 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. . To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. 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. Chicago has a compelling, beautiful cityscape with so much potential for film productions of all mediums and sizes, Lightfoot said. 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. Your preeminent production platform with 36 active stages across its 1.6 million square foot two campuses, located within 15 minutes of downtown. The film operation at The Fields would be a smaller version of the Cinespace Chicago Film Studios campus on the West Side, where TV shows and movies are filmed and produced. Follow our newsletter to keep up with new offerings and opportunities at Cinespace - and key developments across our entire industry. A federal appeals panel has ruled an Illinois state agency didn't violate . 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. Eoin Egan, who served as the head of production services at Netflix, will serve as the chief operating officer of Cinespace, officials said. Executive producer Michael B. Jordan (Black Panther) is already shooting the AMC drama series61stStreet at Cinespace Chicago Film Studios. It is home to Dick Wolfs Chicago-set shows, including the One Chicago series, and Showtimes The Chi.. 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 Cinespace brand is recognized. On Tuesday, Mayor Lori Lightfoot of Chicago, the first Black woman and first openly L.G.B.T.Q. Stay on top of the latest film, TV, advertising, entertainment and production news! General Inquiries 773.521.8000 studioinfo@cinespace.com how interested you are in the Fire, whose season begins Saturday against New York City FC at Soldier Field. Located on the west side of downtown Chicago, Cinespace Chicago Film Studios occupies 1.45 million sq. Crains Chicago Business reported the sale price as $1.1 billion. Cinespace also has a significant presence in Toronto. 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. Consumer appetite for original content is a growing secular tend 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, TPG co-head of Real Estate Avi Banyasz said in the statement. Lightyears will premiere exclusively on Amazon Prime Video. This enterprise has been a true family business, and todays transaction marks another important milestone in our 33-year history. 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. By clicking below to submit this form, you acknowledge that the information you provide will be processed in accordance with our Privacy Policy. As part of the acquisition, Eoin Egan and Keith Gee will join Cinespace as co-managing. For more information on programs filming at Cinespace Chicago Film Studios or for information on CineCares Foundation, please visitChicagoFilmStudios.com orCineCaresFoundation.org. Got a story tip? The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. 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. Life on a third straight one-year contract with the mega-talented Astros isnt bad at all. According to Crains Chicago Business, TPG, in a statement, has confirmed that its TPG Real Estate Partners unit has made the acquisition. 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. Williamson is a native Chicagoan and rose through the ranks of commercial, non-scripted and scripted TV production starting as a production assistant. It's how we act that makes a difference: we offer education and training to engage, support and contribute to our communities. Stay on top of the latest advertising, film, TV, entertainment and production news. 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.. Follow Your Favorite Chicago's Afternoon News Personalities on Twitter:Follow @SteveBertrand Follow @kpowell720 Follow @maryvandeveldeFollow @LaurenLapka I am thrilled to see this acquisition expand our capability for content creation and look forward to the jobs and productions it will bring to our region. 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. Power Book IV: Force, the third spin-off of the popular StarzPower series produced by Lionsgate, is also shooting at Cinespace Chicago Film Studios. 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. 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. Clickhereto support Block Clubwith atax-deductible donation. 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. 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. Information. The show follows a couple who discovered a chamber buried in their backyard, which inexplicably leads to a strange, deserted planet. Upon taking office, Quinns Republican successor Bruce Rauner, demanded Cinespace return the grant money following a Chicago Sun-Times investigation that showed that the parcels Cinespace had intended to buy were not for sale. Despite his legal woes and the attention from Colis indictment, Pissios has remained a player in Chicago real estate. The deal includes both the Chicago and Toronto locations, which have more than 50 soundstages combined. News about the Studio and Production Facility Industry | Cinespace News and industry updates about Cinespace, as well as the entire industry devoted to filming locations, production facilities, and studio space.