![]() ![]() A total of nine sound stages will be available on the redeveloped site, featuring one 5,000-sq.-ft. of sound stages and more than 350,000 sq. “It’s located in a great neighborhood halfway between the airport and downtown so it works well for transportation logistics, but also for attracting stars and executives that want an urban environment in addition to making high-quality content.”Īppropriately named The Fields Studios, the 23-acre site will be transformed to house 132,000 sq. ![]() “We’re kind of continuing down that path with a modern day manufacturing facility that’ll hire people locally,” said Koita. Illinois film production expenditures in 2022 surpassed pre-pandemic estimates by $130 million. The sheer size of the more than 100-year-old property, physical location and logistical assets prompted its purchase and led Knickpoint Ventures to cultivate its own film studio plan. Koita notes the company looked into studio development for the last several years. “We thought that we could really grow the production base here in Chicago by adding this kind of product to the market.” The new era of film production happens in purpose-built studios that are specifically created to house the technological needs of productions in the future,” says Knickpoint Ventures Founder and Managing Partner Zain Koita. “There were only a few providers of studio space in Chicago and from what we found they were fully occupied in spite of being conversions of warehouse buildings. Construction began eight months later on the $250 million project, which is set to become operational in spring 2024. The site was acquired in 2018, before receiving city council approval in February 2021. In turn, the company is introducing the city’s first purpose-built studio at the former Marshall Field’s Wholesale Warehouse. However, such an established presence within the industry does not preclude space for firsts.įor New York-based real estate developer Knickpoint Ventures there was an industry need not yet met in Chicago. ![]() The industry has amassed continued success over the past three years, beating out pre-pandemic expenditure in 2019 by $131 million. In March 2023, Governor JB Pritzker and the Department of Commerce and Economic Opportunity (DCEO) announced that the state had broken its record for film production expenditures in 2022 at a whopping $691 million. When it comes to film and television production, the city holds an impressive roster of industry favorites such as “Ferris Bueller’s Day Off,” “Home Alone” and “The Dark Knight.” Since 2010, more than 85 films and over 100 television shows have selected Chicago as their home base. Right lights are no stranger to the city of Chicago and neither is star power. ![]()
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