Chicago is getting our own movie studio! ...or are we?

[Kaio]

Was wondering if anyone had some straight dope (with sources) on what is actually happening with this project.

There is an old steel plant on the West Side that is being planned to be converted to a large film studio with sound stages and all the attendant bells and whistles. The scuttlebutt I hear from people in the industry here (mainly actors, so maybe this is rosy-colored glasses or a bit of wishful thinking?) is that it's basically a done deal and the studio will be open for business by around January already.

The Reader thinks it's far less of a sure thing. Mainly that the investors are banking on a bunch of government money that they're not actually certain to get.

Anyone know what's actually going on? Are we getting a studio? Are we probably getting a studio but still waiting on some funds? Is this completely unrealistic?

[Artista]

I heard something about that back in the mid to late 90s. Possibly near Oprah studios. Could that be the same 'dope'?