SOUTH SHORE — City Council threw its support behind a film studio in South Shore, unanimously approving plans for the $60 million development that aims to establish Chicago as the “Hollywood of the Midwest.”
City Council passed a zoning change Wednesday for the Regal Mile Studios development at 77th Street, South Chicago and Stony Island avenues, giving the green light to developers ID8 Ventures and Loop Capital Markets to move forward on their project.
The Regal Mile Studios would bring a “state-of-the-art media campus” with 220,000 square feet of studio space to a 6.5-acre plot in the far southwest corner of South Shore.
They’ll be built on vacant properties at 1431-1525 E. 77th St. and on the 7700 blocks of Blackstone, South Chicago, Harper and Stony Island Avenues. The development is estimated to cost $60-$70 million, with the studios set to open in late 2022 or early 2023.
Despite drawing its name from the nearby Regal Theater, the Regal Mile Studios project will not incorporate the deteriorating theater at 1641 E. 79th St.
ID8 Ventures — in which Derek Dudley, producer of Showtime’s “The Chi,” is a partner — and Loop Capital Markets submitted the now-approved application for a zoning change for the South Shore properties in late May.
“I’m just very excited at the opportunity to bring this project to life,” Dudley said at last week’s Plan Commission meeting. “This project will be monumental in terms of being able to expand the film and TV business and make Chicago the Hollywood of the Midwest.”
For an overview of the Regal Mile Studios plans, click here.
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