Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Illinois Issues First Round of Cannabis Shop Licenses
The State of Illinois on Friday awarded 149 of the 185 cannabis dispensary licenses selected in three lotteries last summer. Businesses awarded the conditional licenses, predominantly in the Chicago metro area, will have 180 days to select a storefront and obtain final approval from the state.
The conditional licenses are the first to be issued since Illinois legalized cannabis for adult use in 2019. Of the businesses selected through the lottery, 41% are majority Black-owned, 7% are majority White-owned, and 4% are majority Latino-owned, while 38% of awardees did not disclose their race.
“Illinois is leading the way in addressing the War on Drugs as no state has before, and dispensary ownership that reflects our state’s diversity is a product of that commitment,” said Gov. JB Pritzker. To date, Illinois has made and executed the greatest commitment of adult use cannabis tax revenue to community reinvestment, Pritzker’s office said.
- ◦Policy/Gov't

