Illinois Equity Crowdfunding is now available

Originally posted at Crowdfunding-Website-Reviews the applications and final rules for both issuers and portals has now become available. The most dynamic intrastate crowdfunding rule in the nation is now effective. All needed rules and regulations have been provided by the Illinois Secretary of State and Issuers are lining up to take advantage of this new capital raising tool.

UPDATE #3: The long awaited final rules and applications from the Illinois Secretary of State have finally arrives. One portal, VestLo, has announced that they have submitted their application to act as an Illinois Intrastate Equity Portal through this press release. We have been rather surprised that the local Chicago news has not yet written on this exciting new development. The Portal and Issuer applications can be found on the Secretary of States website. You can find all Illinois Equity Crowdfunding Forms. To go directly to the issuer registration form, it can be found here. With Illinois companies having the ability to raise $4mm vs the federal crowdfunding laws being limited to $1mm raise. The Illinois law has come big advantages over the JOBS Act. Our expectation is for the Illinois law to be the proof that intrastate will be a real option for businesses based in Chicago and around the State.

UPDATE #2: Looks like we can expect the administrative rules, portal application and issuer application to be released by the Illinois Secretary of State by April 1st, 2016. We are expecting 3-4 portals to be applying to the state under HB 3429 (Illinois INTRASTATE OFFERINGS EXEMPTION aka The Illinois Investment Crowdfunding law) on the 1st day the application is made available. There appears to be more excitement surrounding the Illinois law than we have found in any of the other 29 states with intrastate crowdfunding has been enacted. Portals have already begun marketing efforts to attract both issuing companies and Illinois investors. A few of these portals seem to include truCrowd (also operating in Texas), VestLo and a couple more portals that have asked us to “keep things quiet” until the final rules are released.

UPDATE: Illinois HB 3429 – Illinois Equity Crowdfunding has passed both the State House and Senate unanimously as of May 20, 2015. The bill is on its way to Governor Bruce Rauner to be signed in to law. We have total confidence that our business friendly governor will have no reservations signing this bill and helping to expedite its implementation. The Illinois intrastate equity crowdfunding bill is the most aggressive attempt of any state bill to encourage the invest-local movement.
Check back often for updates on this exciting new time for Illinois small business and investors as we will be following this very closely. More Info

Investing in Distinct Chicago Neighborhoods

Introduction:

Chicago is a fantastic city with a unique blend of culture, arts, and tradition. You can witness the most modern technological advances as well as the links to ancient history as well. Chicago is home to around 77 neighborhoods comprising of about 51 communities. The heart and soul of Chicago resides in them. You can divide Chicago into four geographical areas as follows.

  • North Chicago
  • West Chicago
  • Downtown Chicago
  • South Chicago

We shall explore about ten great Chicago neighborhoods locations. We shall discover the historical sites as well as attraction encompassing art, culture, nightlife, and shopping.

  • Bucktown / Wicker Park:

This sounds like a very odd name for a modern neighborhood. Today, this place is one of the most modern and trendy neighborhood in the whole of Chicago. However, in the early days, goats used to graze aplenty. This is how this place got the name. The buck is a male goat. Polish immigrants used to rear these male and female goats in the early part of the nineteenth century. It is around the last quarter of the twentieth century that Bucktown evolved as an artistic community. The area has fantastic infrastructure with more than two million homes scattered around the neighborhood. Today the higher rents in Bucktown are pushing people down south into the Wicker Park area.

 

  • Gold Coast / Old Town:

Stunning lake views characterize this area and separate them from the others. This is a high-priced community area with several houses touching millions. This place has some of the oldest styles of Chicago mansions where people can experience intentional living and share humongous space. This area is famous for its nightspots, good food, as well proximity to the lakes and business districts. The most renowned location in this area is the Oak Street running through the heart of an area, the “Viagra Triangle.” Here you can see elderly men having a great time with young women in their twenties.

  • Hyde Park:

There can be no doubt in anyone’s mind that the most famous resident of this area is the present United States President, Barack Obama. The area is also home to several prestigious universities and institutions such as the University of Chicago. This University has churned out 87 Nobel laureates. This makes it one of the most prestigious Chicago neighborhoods.

 

  • Lincoln Park:

 

About two centuries ago, this area was full of swamps and forests. Today, this is one of the most fashionable areas in Chicago. This is one of the best places to start a family. There are a number of good schools as well as colleges in the vicinity. The greatest advantage of this place is that you do not require a car to move around the place. This is because of scarce parking space. You can find DePaul University’s largest as well as the oldest campus here in Lincoln Park. This is the headquarters of the ultimate resale shop, Millionaire Rejects.

 

  • River North:

 

Until very recently people referred to this area as a slum. However, real estate developer, Albert Friedman changed the landscape by leasing out the buildings to art galleries, and other agencies such as photographers. Today you can find the area has more than 100 art galleries in a cluster. This area boasts of the world’s largest commercial building, Merchandise Mart. This area also houses the world’s tallest residential skyscraper, Trump Tower built by Donald Trump. The transformation from a slum to one of best Chicago neighborhoods is fantastic.

 

  • Roscoe Village:

 

In the late nineteenth century, German and Swedish workers settled here. They developed a great industrial township. The Great Depression saw the downfall on innumerable industrial units and slowed down the development. However, the real estate activities picked up in the latter half of the twentieth century. This area is famous for being in close proximity to The Loop. However, this area has retained the rustic charm of a village. You can find numerous antique stores in this area.

 

  • South Loop:

This place is home to some of the top tourist locations today. However, in the early part of the twentieth century, this area was the hotbed of brothels, saloons, and pawnbrokers. Today, you can find luxury high-rise apartments all over the area. This area is famous for its proximity to Lake Michigan. This is a fast developing area and the favorite of the young working professional. This makes it one of the upcoming Chicago neighborhoods.

 

  • Streeterville:

This is a developing neighborhood. Real estate values are now very high in this area. The old buildings have given way to new high-rises with more than the usual amenities. Most of the complexes have banks, clubs, convenience stores, as well as hotels. You can find parking cost to be very heavy in this neighborhood at $ 250 a month. This would make renting out taxis much cheaper.

 

  • West Loop:

This area is home to Oprah Winfrey’s Harpo Studios Empire. Initially, a warehouse district, this area is now home to contemporary lofts, mid-rises, and art galleries. You may not find buildings more than seven stories high in this area. In comparison with other areas, parking is quite cheap here. Hence, people prefer this area to others. You can find the Whitney M Young Magnet High school here. One of its most famous students is the First Lady of the US, Michelle Obama. You should not miss the Randolph Street Market in this area.

 

  • Ukrainian Village:

You can find a rich blend of German, Polish, and Ukrainian culture in this village, just south of Wicker Park. Though today, most of the people are not of Ukrainian lineage, you can find some of the best Ukrainian food in the area. You can still hear some people speak in the Ukrainian language here. This is a middle class locality with a three-bedroom condominium available for $ 350,000. You can also find some old Victorian era houses in the area. You can find communities living here for decades.

 

Conclusion:

You have seen ten Chicago neighborhoods with a unique blend of culture and history. Today, the areas have seen tremendous development. However, they have still maintained the traditional look in places.