Hashing out what recreational marijuana means for Illinois` retail sector

New Year’s Day 2020 will usher in a new era in Illinois. On that date, the limited sale of recreational marijuana will be legal—a move that will have wide impacts not just on society but the commercial real estate industry as well.

Medical marijuana has been legal in Illinois for more than six years, but the deregulation of recreational use will alter the landscape. Who will operate these new dispensaries? Will property owners and nearby residents balk at this expanded entry into the retail ecosystem?

“As everybody understands this better, and as the regulations and requirements become clearer, I think we will become more nimble,” said Deena Zimmerman, vice president at SVN Chicago Commercial. “I think it will be a slow and steady rollout, but I see it being really successful if it’s done the right way.”

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RSK: Hmmm, let`s see...what could be wrong with this picture? What state is this in again? Oh, yes, that`s the reason. Maybe they won`t mess this one up? Naaa...it will be a mess. More to come I am sure.

Ken Notes: I have been following the licenses and they just approved a store in South Beloit, my guess is it will be called, "Welcome Wisconsin"...



- - Volume: 7 - WEEK: 47 Date: 11/19/2019 8:56:04 AM -