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Buying a business: Illinois vs Wisconsin

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 Edge
Median cash flow$180,547
Typical multiple2.5×
Owner-earnings yield~40%
Median revenue$804,805
VS

Wisconsin

398 active listings
Active listings398
Median asking$562,500
Median cash flow$200,935 Edge
Typical multiple2.8×
Owner-earnings yield~36%
Median revenue$760,601

Who wins?

Illinois has 178% more businesses on the market than Wisconsin (1,106 vs 398). Illinois is cheaper at the median asking price. Illinois trades at a lower multiple (2.5× vs 2.8×), meaning you pay less per dollar of cash flow there.

MetricIllinoisWisconsin
Active listings1,106398
Median asking$450,000$562,500
Median cash flow$180,547$200,935
Typical multiple2.5×2.8×
Owner-earnings yield~40%~36%
Median revenue$804,805$760,601
Related comparisons

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