Wheeling cannabis dispensary closing

[[{“value”:”

A Wheeling cannabis dispensary and consumption lounge is shutting down after less than three years.

Okay Cannabis, 781 N. Milwaukee Ave., will close for good by the end of the month, a store employee confirmed Thursday. The West Town Bakery that operated in the same building and was owned by the same parent company shuttered in March.

“Ownership has cited a combination of factors, including sales performance that fell short of projections and the high costs associated with operating a large, nearly 12,000-square-foot facility,” said Len Becker, Wheeling’s economic development director.

Okay Cannabis opened in Wheeling in February 2023. Okay Cannabis partners reportedly included Charles Mayfield, the chief operating officer for Chicago Public Schools, and former Chicago Alderman Ameya Pawar.

The dispensary and the bakery were founded by the Chicago-based Fifty/50 Group. The Wheeling village board awarded the company a $100,000 grant in 2022 to renovate the interior of the building, which is in the shadow of the Westin Chicago North Shore hotel, just south of Lake-Cook Road.

The site previously had been home to a Twin Peaks restaurant that closed in 2019.

Last year, the Fifty/50 Group sold all the Okay Cannabis dispensaries and the Wheeling West Town Bakery store to Nature’s Grace and Wellness of downstate Vermont, Becker said. The Fifty/50 Group still owns the Wheeling building, he said.

While the Okay shop in Chicago’s West Town neighborhood was rebranded to be part of the Bud & Rita’s dispensary chain, the Wheeling and Evanston stores retained the Okay name.

The store’s name didn’t change because closure was being contemplated from the start, Becker said.

The Okay Cannabis dispensary in Wheeling is ceasing operations. Village officials say they’re already working with the building’s owner to find a new tenant.
Paul Valade/pvalade@dailyherald.com

The economic impact of the dispensary’s closure on Wheeling should be minimal, Becker said.

“Overall, Wheeling’s sales tax collections have remained stable, and our diversified commercial base continues to support a strong fiscal position,” he said.

The village is working with the Fifty/50 Group, Nature’s Grace and real estate brokers to develop a marketing strategy that’ll lure a new tenant to the site, Becker said.

“The property remains in excellent condition and includes a fully built-out commercial kitchen, making it particularly attractive for new restaurant ventures or entertainment-based uses,” he said. “We are currently in discussions with several restaurant groups and look forward to welcoming a new concept that adds to the vibrancy of this area.”

Representatives for the Fifty/50 Group and Nature’s Grace and Wellness couldn’t be reached for comment Thursday.

“}]] [[{“value”:”A Wheeling cannabis dispensary and consumption lounge is shutting down after less than three years.

Okay Cannabis, 781 N. Milwaukee Ave., will close for good by the end of the month, a store emplo…”}]]  Read More  

Author: