The City of Chicago and Mayor Lori E. Lightfoot are celebrating the groundbreaking of a 380,000-square-foot, seven-acre enclosed media campus and sound stage development in the heart of the city’s South Side. Called the Regal Mile Studios Campus 1, the privately funded project is sponsored by investment bank Loop Capital, which supports Mayor Lightfoot’s INVEST South/West investment initiative.

The $100 million development is located in the Stony Island neighborhood and intends to reimagine the pre-existing Regal Theater and 79th Street Corridor, with designs led by Chicago-based practice Bauer Latoza Studio. The scheme will include three film studios, office space, staging areas, and adequate parking space. All of these components will be divided across three areas within a triangular site. The studio will feature a central internal portion that will act as an open flex space for staging and staff access.  

The project’s equity sponsor and developer, alongside Loop Capital, ID8 Ventures, which was established in 2018 by entertainment manager, producer, and Chicago native Derek Dudley, envisions Chicago as the future “Hollywood of the Midwest.” The company notes the growing interest in Chicago by media giants, such as Netflix, Disney, and Amazon. 

The application for entitlements for Regal Mile Studios Campus 1 was submitted in 2021, with construction now set to complete in Fall 2024. 

“Through this $100M investment to develop a new, state-of-the-art media campus in the South Shore neighborhood, INVEST South/West will expand educational opportunities for young people and equip them with the skills they need to thrive and succeed in the film and media industry,” said Mayor Lightfoot. “I am thrilled that this project not only puts community voices front and center but also enhances Chicago’s presence in the entertainment industry. Ultimately, this development will support our South Side residents and contribute to our prosperous, post-pandemic recovery.”