Knickpoint Ventures broke ground this week on the vacant lot of the former Marshall Field’s warehouse property, moving forward on a plan for The Fields Studios that has been in development since they purchased the property in 2018.
The 22 acre property at Diversey and Pulaski Road, a series of interconnected brick structures, once used by Olson Rug & Carpet and later by Marshall Field’s, was sold to Knickpoint for almost $35 million in September 2018.
In this latest step in the development of the property, construction has begun on what is said will be Chicago’s first purpose-built film studio, with production office space and nine soundstages, on two lots totaling 132,000 square feet of sound stages and more than 350,000 square feet of creative and production offices.
“Knickpoint Ventures is combining our expertise in commercial real estate and entertainment production to create a modern, mixed-use studio campus that brings a best-in-class facility to Chicago,” said Zain Koita, Founder and Managing Partner of Knickpoint Ventures. “The Fields Studios meaningfully connects with the public in both its physical design and the business opportunities it will bring to the surrounding community.”
“The Fields Studios can accommodate a large-scale production with significant set design spacing needs with plenty of support for logistic demands, as well as smaller boutique projects, in an energetic campus environment that is designed to encourage collaboration and creativity,” said Shawn Papazian, Knickpoint Ventures partner, a long-time entertainment studio facility president and film and TV producer. “Our approach is to provide facilities that are purpose-built for today’s stringent production specifications while allowing for future capacity for increased technological needs. We bring a producer’s perspective to the physical studio business so that our clients can produce top-quality content in a connected, urban, campus-style location while taking advantage of Chicago’s high-quality crews and infrastructure, diverse natural and urban backdrops, and global transportation access.”
Construction of The Fields Studios new sound stages and support space is anticipated to be completed in the first quarter of 2024. For more information, visit here.
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