An $80 million bid by Toronto soundstage operator Cinespace Film Studios to convert a steel plant on Chicago’s west side into a film and TV studio with five giant film stages could come up short for lack of financing, according to the Chicago Sun-Times.

The Chicago newspaper on Dec. 2 reported the Chicago Film Studios bid led by Cinespace chairman Nick Mirkopoulos has hit a financing roadblock. ‘In 10 to 15 days, we should know if it’s go or no go,’ Mirkopoulos told the Chicago newspaper.

Cinespace executives could not be reached for comment at press time.

The Sun-Times report indicated the Chicago Film Studios bid stands to secure a $5 million grant to redevelop the former metals plant at 2558 W. 16th St., but added ‘financing is scarce’ for speculative film and TV studio plays.