#Moca dispensary river north license
#Moca dispensary river north free

Citing regulatory complexity, investors and cannabis executives tell Grown In off the record that individual dispensaries from incumbent license-holders are not in play, but rather sold as two-packs. Accordingly, the valuation of licensed Illinois dispensaries operating or preparing to operate in Illinois is based on coupled assets of at least two dispensaries.

#Moca dispensary river north license

Incumbent Illinois medical marijuana dispensary owners like MoCa were provided a second recreational-only license in the 2019 law legalizing recreational sales. However, the valuation floor for individual operational dispensaries in the city appears to be $6 million to $10 million, based on Grown In’s informal survey of multiple operators, investors, and service providers tracking the market.

Independently owned dispensaries in Chicago and throughout the state are being courted for acquisition.Ĭannabis investors and operators note that MoCa, with prime locations and extensive build outs in Chicago’s River North and Logan Square neighborhoods, is likely valued at a higher price tag than the average Illinois dispensary.

#Moca dispensary river north free

Lead attorney drops out of Illinois veterans points case Will licenses be free and clear?Īfter a year of declining valuations and limited access to investment capital, commercial cannabis companies that own licenses to grow and sell the plant in Illinois are now increasingly attractive to public and private investors. Every dime we make funds reporting from Chicago’s neighborhoods.Īlready subscribe? Click here to support Block Club with a tax-deductible donation. Block Club is an independent, 501(c)(3), journalist-run newsroom. JB Pritzker issued an executive order in April that indefinitely delayed the awarding of 75 new dispensary licenses aimed to expand minority-ownership in the industry.īlock Club Chicago’s coronavirus coverage is free for all readers. While the state’s existing medical dispensaries were able to convert to dual-use sales and open second, standalone recreational only shops, Gov. The company’s desire to move the Wrigleyville pot shop to a bigger location down the road took a hit over the weekend when state lawmakers failed to pass an amendment that would have fixed language in the state’s cannabis law preventing existing medical dispensaries from relocating. in Chicago, and another in downstate Danville that opened Wednesday. The River North dispensary is Cresco Labs’ seventh Sunnyside location to open in Illinois, including Sunnyside Lakeview, 3812 N. ““COVID presents some unique challenges in staffing up a store our size,” Marks said. MOCA co-owner Danny Marks told Block Club they hope to open in River North in mid-June, as they prepare “for the extra challenges with social distancing in such a high density area.” RELATED: Cresco Labs, MOCA Score Coveted Licenses To Open Weed Shops In River North State officials determined that because no existing dispensary was present, neither were blocked by state law that requires no dispensary open within 1,500 feet of an existing pot shop. Ohio St., despite the two locations being within 1,500 feet of one another. The state surprised the industry by awarding a license to both Cresco Labs and MOCA Modern Cannabis, at 216 W. Hubbard St., where the company has leased space to help limit lines. Before heading to the dispensary, customers must check in at 22 W.

“We are thrilled to be opening the first adult use store in Chicago under the state’s new legislation and to provide an example of what normalized and professionalized cannabis looks like with a location in a traditional business district, a local and diverse operating team and a tremendous amount of community input and support,” said Charlie Bachtell, Cresco Labs’ CEO and co-founder.Ĭustomers must order online and will receive a message to pick up their weed in a three-hour window.

Cresco Labs won the right to open in the Central Cannabis District at a lottery in November. All others sell to both medical patients and recreational customers. The dispensary is the first in Chicago to exclusively sell recreational weed.

with a subdued “pop-up” experience that will require online pre-orders and a separate check-in location around the corner to limit large crowds because of coronavirus. ASCEND by MOCA River North is an adult-use dispensary in Chicago, IL.

We are excited to bring a seamless cannabis buying experience to your community.

DOWNTOWN - Chicago’s first Downtown pot shop will open in River North Thursday morning.Īfter a fight to be the first, Cresco Labs will open its Sunnyside dispensary at 436 N.