Second wave of cannabis dispensary licenses includes Seven Point's

Jennifer Bailey Jennifer., Commercial-News, Danville, Ill.
·3 min read

Aug. 2—DANVILLE — Seven Point of Illinois was the latest entity to receive a conditional adult-use cannabis dispensary license as part of the second wave of licenses issued in Illinois.

Seven Point's Brad Zerman now owns the land at 388 Eastgate Drive to build Danville's second adult-use cannabis dispensary. He's trying to fast-track drawings and he'd still love to start construction in 2022.

Due to city opposition for an on-premises cannabis consumption lounge, he's leaving the opportunity open for an addition to the dispensary in the future.

Danville aldermen last year approved a special-use permit for an adult-use cannabis dispensary in Lot 1 of the subdivision at 388 Eastgate Drive. The lot is closest to Econo Lodge, used for parking and which was owned by Danville Hospitality LLC and Joe Patel.

Zerman also won two craft growers licenses through the state, with Seven Point and Harvard Grow LLC.

The first wave of dispensary licenses issued by the state earlier in July included two other licenses for the Danville/Vermilion County region for Mariworks LLC and Parkway Dispensary, both Chicago-based.

Gov. JB Pritzker and the Illinois Department of Financial and Professional Regulation on Friday issued 28 additional Conditional Adult Use Dispensing Organization Licenses to applicants selected in three lotteries for 185 licenses.

These awardees join the 149 conditional licenses issued by the department on July 22, bringing the total number of issued licenses to 177.

"These 177 licenses represent 177 individual but powerful steps toward addressing the decades of injustice preceding cannabis legalization, and I'm proud to help foster an industry that looks much more like the state it serves than its counterparts across the nation," Pritzker said through a press release. "We can't turn back time, but we can act with an intentional eye for accountability and diversity, and that's exactly how we in Illinois will continue to move forward."

At this time, only eight of the 185 conditional adult use dispensary licenses remain to be issued by IDFPR. The department is waiting for additional or updated documents from entities that did not receive conditional licenses last week. IDFPR anticipates processing the remaining conditional licenses as quickly as possible over the coming weeks once those documents are received and approved.

All businesses awarded conditional licenses have 180 days to select a physical storefront location and obtain the full Adult Use Dispensing Organization License. If a Conditional Licensee is unable to find a suitable physical location within the 180-day period, they may request an extension of 180 days. Once issued an Adult Use Dispensing Organization License, a business may begin purchasing and dispensing adult use cannabis.

"Every license released is another opportunity to create jobs and build wealth in the communities most harmed by the war on drugs, and we are excited for these next steps to accomplish that," said Mario Treto, Jr., Secretary of the Illinois Department of Financial and Professional Regulation. "Our team recognizes the opportunity implicit in each license, and I'm very proud of their commitment to working with awardees to issue licenses as swiftly as possible."

Through a separate program administered by the Illinois Department of Commerce and Economic Opportunity (DCEO), the State of Illinois offers low-interest loans to qualified licensed companies through its Social Equity Cannabis Loan Program. The first round of social equity license applicants are expected to finalize loan agreements directly with DCEO's partner lending institutions in the coming weeks. The next phase of the loan program will be launched in the near future.