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Mary Ellen Podmolik

$500,000 for Englewood Whole Foods project came from national crowdfunding

$500,000 for Englewood Whole Foods project came from national crowdfunding

When Whole Foods opens in Chicago's Englewood neighborhood next year, it's likely to draw a crowd of residents. But the project, which aims to rid the city of one of its food deserts, has already drawn interest from across the nation.

That's because $500,000 of the $15 million project came via crowdfunding, from 61 investors in 21 states, and was raised in just two days this fall.

It's a small amount to be sure, but the rapid success surprised crowdfunding platform Fundrise as well as DL3 Realty, the developer behind Englewood Square. And it came even before new federal rules on crowdfunding were announced that could make it easier for community residents to invest in...

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