Client: Freeborn & Peters, Anthony Zeoli

Source: DNA Info

Lincoln Park Apartments Could Get Upgrades — Through Crowdfunding

“The company is using Chicago-based VestLo, which proclaims itself the first Illinois equity crowdfunding portal to take advantage of a new state law allowing as much as $4 million to be raised from small investors able to put up as little as $1,000 apiece.

Backers said the new state law gives small investors a shot at becoming a part of projects normally dominated by deep-pocket developers…

Howard Orloff, co-founder of VestLo, said, “This is the first real-estate project to use the new Illinois law, and we couldn’t be more happy to have them using our portal to fund this offering.”

Other VestLo projects involve Native Sons Chicago and CrossTown Fitness, he said.

Chicago attorney Anthony Zeoli, who helped write the new law, said it actually takes real-estate development out of the hands of deep-pocket investors and opens it to those able to contribute as little as $1,000.”

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