Edmondson Village will be sold for $17 million — weeks after a mass shooting there left one teenage student dead and four others injured. But the deal, set to close in April to a Chicago-based investment group, comes with a unique caveat. For as little as $1,000, new owner Chicago TREND is selling stakes in the 76-year-old retail strip to encourage the community to buy into its vision to pump $40 million into the center and reset its image. An online crowdfunding drive recently opened at the real estate crowdfunding site SmallChange.co with a goal of raising up to $1 million for Edmondson Village’s fresh start. Investors will be able to share in equity and investment in the center. As of Tuesday, $18,500 had been raised toward the effort, the website showed.
Edmondson Village shopping center to sell for $17M as new owner looks to crowdfund its future
February 15, 2023