CineCares creates pathways into the film industry for young people on the South and West Sides through job training, education and internships at Cinespace.
The deal will also expand Cinespace’s social impact work in Chicago by growing the CineCares Foundation, the film studio’s nonprofit wing. “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. The acquisition is expected to accelerate the growth of Chicago’s thriving film industry and bring more production jobs to the area, said Avi Banyasz, co-head of TPG Real Estate. Eoin Egan, who formerly worked as head of production services at Netflix, will be named Cinespace’s new COO, according to Deadline. 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. The studio has about 33 sound stages and recently announced it will add up to 19 more soundstages to its campus.
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.Ĭinespace Chicago Film Studios’ sprawling 60-acre campus is located on the West Side, with the main studios at 2621 W.
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