CHICAGO-Construction of a 183,000-sf state-of-the-art film and television production facility in North Lawndale could begin by the end of the year, with the five sound stages ready for film crews in early 2006. Central City Studios is building the $43.7-million facility is being built on a 12.7-acre site in the 4300 block of W. Roosevelt Road once used for illegal dumping of debris.

The project already has been earmarked for $10.5 million in tax increment financing assistance, which was briefly questioned by 42nd Ward Alderman Burton Natarus before the planned development was endorsed by the plan commission Thursday. However, Steve Patterson of the department of planning and development notes the city-owned site generates no property tax revenue now, has been vacant for several years and its redevelopment will keep filming operations in the city, rather than locales outside the US such as Toronto.

“This will strengthen a segment of the economy that has been struggling for several years,” Patterson says.

Central City Studios is paying $1.1 million for the site, its appraised value. The facility will be managed by Santa Monica, CA-based Raleigh Enterprises. Steven Allison of Central City Studios adds the project should be a catalyst for additional development in the North Lawndale community, bring 1,250 jobs to the neighborhood, with many of them going to local residents.

Financing is in place for the project, Allison adds. Central City Studios, LLC is getting $25 million in Empowerment Zone bonds through the Illinois Finance Authority as well as a $2.5-million state grant. A tax-credit deal will generate about half of the $6.9 million in equity, with the other half coming from Raleigh Enterprises.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.