Businesses For Sale in Chicago, IL

Chicago's economy is thriving, making it an attractive location for those looking to buy a business. The city is known for its diverse industries, from finance and technology to manufacturing and healthcare. If you are considering purchasing a business in Chicago, IL, the following data can provide some context for your decision-making process.

Market Snapshot

We have aggregated data from business for sale listings in Chicago to give you a sense of the market. Keep in mind, this is a dynamic marketplace, so numbers will fluctuate. However, this data can give you a general idea of the types of businesses, price ranges, and financial performance you can expect.

How many businesses are currently for sale in Chicago?

At present, there are approximately 240 businesses available for sale in Chicago. This vibrant market offers a diverse range of opportunities for prospective buyers. Many of these businesses may be listed for sale blindly to maintain confidentiality, so a broader Cook County or Chicago Metro Area search may be needed to find them.

What types of businesses are most commonly listed for sale in Chicago?

The Chicago business market is diverse, with the following types of businesses frequently listed:

• Food and Restaurants: around 60
• Retail: around 30
• Service Businesses: around 30
• Building and Construction: around 20
• Health Care and Fitness: around 20

Additionally, there are Automotive and Boat, Beauty and Personal Care, Manufacturing, Transportation and Storage, Education and Children, as well as Online and Technology businesses each with around 10 listings.

What is the average asking price for these businesses?

The median asking price for businesses in Chicago is $450,000. This number provides a benchmark for buyers, yet actual prices can vary significantly depending on specific factors such as location, industry, and profitability.

What are the average revenue and earnings of these businesses?

The median reported revenue for these businesses is approximately $810,000. With an average profit margin of 24%, the median reported earnings stand at $200,000. These figures underscore a healthy business climate in Chicago.

What are the asking valuation multiples?

In the Chicago market, the median earnings multiple is 2.3 on the asking price, and the revenue multiple is 0.6. It is crucial to understand that these multiples can vary widely across different industries and individual business attributes.

For business owners in Chicago looking to sell their businesses, what options do they have?

Business owners in Chicago can take two primary routes to sell their businesses. Most business owners will hire a business broker, who typically charges a fee ranging from 10% to 15% of the sale price. Business brokers can add significant value through their expertise in valuation, marketing, and negotiating deals. Alternatively, some business owners might choose to list the business for sale directly and manage the sale process on their own to avoid broker commissions. This approach requires a greater level of involvement and understanding of the sales process and is suitable for business owners who have the time and resources to handle it. Overall, both options can be viable depending on the specific needs and goals of the business owner.