Illinois Cannabis Real Estate & Regulations
Zoned Properties in Illinois
Population:
12.67 million (2021)
Local Zoned Broker:
Affiliated Partnerships Available
Number of Retail Licenses:
295 (As of June 2023)
Licensing Status:
Awarding licenses since 2020
Legal Status:
Recreational
Cannabis Sales:
3.6 billion dollars (Adult Use Gross Sales since Legalization as of June 2023)
License Dynamic:
Limited
Delivery Allowed:
No
Drive Thru Allowed:
Yes
Let’s Be Your Reliable Guide For Compliant, Profitable Cannabis Real Estate in IL!
Searching for quality Cannabis properties in Illinois can be time-consuming, financially draining, and mentally taxing. It’s a hulking task sifting through tons and tons of zoning codes, GIS software, and local laws on licensing and permitting. We know this because this is what we do for our clients.
At Zoned Properties, we lift that burden and extra work off your shoulders by combing the lengths and breadths of Illinois in search of quality, profitable, and compliant real estate properties. We save you weeks and months of endless search by showing you ready and available properties to invest in.
We leverage our expertise and industry knowledge to identify prime sites that align with your specific goals and requirements, helping you buy into Cannabis real estate properties that promise excellent ROI.
Let us be the real estate partner that helps you spread your wings across Illinois by providing business-friendly, green zones for your dispensary. Send us a message today!
Site Identification
By conducting thorough assessments of factors such as zoning regulations, accessibility, demographics, and market potential, we ensure that you secure a strategic location with the utmost potential for success.
Brokerage
We work with expert cannabis real estate brokers, acting as intermediaries, leveraging our extensive network and market insights to match buyers and sellers, tenants and landlords, and investors and projects.
Investment
Whether you’re looking to invest in cultivation facilities, retail dispensaries, processing centers, or ancillary businesses, we provide comprehensive analysis and due diligence to mitigate risks and maximize your investment opportunities.
Ready To Invest In Cannabis Real Estate In IL?
With our deep understanding of the Marijuana real estate market and its evolving trends, we offer strategic guidance and insights to assist you in making informed investment decisions. We identify promising cannabis-related projects and ventures that align with your investment goals, risk tolerance, and desired returns.
We will also guide you through the complex process, providing valuable support in negotiations, deal structuring, and due diligence. We understand the real estate dynamics and strive to secure favorable terms that help you maximize your return on investment.
Send us a message, or call us and let’s guide you through identifying, buying or selling, and investing in quality real estate.
Illinois Cannabis Regulations
State Cannabis Overview: The legalization of the use and sale of Cannabis in Illinois started as far back as 2013. However, only medical Cannabis was allowed at the time. It wasn’t until 2019 that recreational Cannabis was legalized for use and sale. On the first day of legalizing the recreational use and sale of Cannabis, over 70,000 citizens of the state spent around $3.2 million buying from legal dispensaries.
Licensing: After the approval of the Cannabis Regulation and Tax Act, which legalized the recreational use and sale of cannabis in the state, the Illinois Department of Financial and Professional Regulation (IDFPR) was tasked with overseeing the licensing process for cannabis businesses.
Local Authority: Municipalities in Illinois are authorized to create and enforce further regulations on the use, possession, distribution, zoning restrictions, licensing, permitting, and more.
By collaborating with our specialists, you can rest assured that you’ll get the best Cannabis real estate deals with good ROI. We ensure the property is fully prepared and ready for your establishment. Send us a message today to own a profitable, business-friendly real estate property in Illinois.
Median Age: 38.3
Median Income: $34,489.
Regulations last updated as of: August 2023
Have any Questions?
What is the outlook for cannabis in 2023?
The revenue within the Cannabis market is projected to reach a staggering $51.28 billion in 2023. Remarkably, the comprehensive economic impact of Cannabis in the United States is expected to surge even further, reaching a remarkable $100 billion in the same year.
How much does it cost to own a dispensary in Illinois?
The cost of owning a dispensary will vary depending on several factors, including the following:
- Property size and condition
- Lease or purchase
- Market conditions
- Zoning and regulations
- Location
- Competition in the area
- Inventory and product selection
Aside from all these factors, specific fees can cost less for some applicants than others. For example, social equity applicants must pay a subsidized, non-refundable application fee of $2,500, while other applicants will pay $5,000.
If you plan to start your own dispensary in Illinois, you can expect to pay from $78,000 to $155,000.
How much is a cannabis cultivation license in Illinois?
The Cannabis cultivation license is pegged at a non-refundable fee of $5,000. However, applicants using the social equity status will pay $2,500. If the application is approved, applicants must pay an additional $40,000 to receive their licenses.
Still have questions? Contact us
Disclaimer: The information provided on this website does not, and is not intended to, constitute legal, financial, or other professional advice. All information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. This website may contain links to other third-party websites. Such links are only for the convenience of the reader, user or browser; Zoned Properties does not recommend or endorse the contents of the third-party sites.
Sources:
https://mjbizdaily.com/illinois-issues-185-new-recreational-marijuana-retail-licenses/
https://idfpr.illinois.gov/news/2023/auc-sales-figures-april-2023.html
https://www.statista.com/outlook/hmo/cannabis/worldwide#:~:text=Revenue%20in%20the%20Cannabis%20market,US%2451.28bn%20in%202023.
https://en.wikipedia.org/wiki/Cannabis_in_Illinois
https://indicaonline.com/blog/how-to-open-a-dispensary-in-illinois/#:~:text=Social%20equity%20applicants%20are%20required,estate%2C%20equipment%2C%20and%20security.
Interested in more Properties?
Click the button to see a complete list of available properties..