Film Studio Coming to Chicago

New studio to be called the Chicago Film Studios

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    NEWSLETTERS

    Stockbyte

    Chicago could soon be the Hollywood of the Midwest.

    Or at least the Toronto of the Midwest.

    That’s because Nick Mirkopoulos, chairman of Toronto film company Cinespace Studios, announced that his company has purchased 48 acres on Chicago’s West Side with the intent to convert a complex of buildings there into a fully functioning movie studio, according to the Sun-Times.

    It shall be called the Chicago Film Studios. Clever, ehh?

    Mirkopoulos said he paid nearly $20 million for the old Ryerson Inc. headquarters at W 16th street.

    The endeavor could create thousands of jobs and $80 million in revenue for the city. And it could be up and running soon.

    "Hopefully, we will be in high gear early next year," Mirkopoulos said.

    Mirkopoulos said he’s opening the studio here because many Hollywood filmmakers are drawn to Chicago for its industry tax breaks. A $5 million grant, which was approved by the Illinois legislature probably helped, too.