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Buying a business: Illinois vs Indiana

Two markets side by side — inventory, pricing, and what you actually pay per dollar of cash flow, from live Waterfall data.

Illinois

1,106 active listings
Active listings1,106 Edge
Median asking$450,000
Median cash flow$180,547 Edge
Typical multiple2.5×
Owner-earnings yield~40%
Median revenue$804,805
VS

Indiana

467 active listings
Active listings467
Median asking$350,000 Edge
Median cash flow$172,674
Typical multiple2.0×
Owner-earnings yield~49%
Median revenue$806,683

Who wins?

Illinois has 137% more businesses on the market than Indiana (1,106 vs 467). Indiana is cheaper at the median asking price. Indiana trades at a lower multiple (2.0× vs 2.5×), meaning you pay less per dollar of cash flow there.

MetricIllinoisIndiana
Active listings1,106467
Median asking$450,000$350,000
Median cash flow$180,547$172,674
Typical multiple2.5×2.0×
Owner-earnings yield~40%~49%
Median revenue$804,805$806,683
Related comparisons

See the full Illinois market or the Indiana market, or set a Buy Box across both and let the matches come to you.

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