Your complete guide to business transactions in the heart of Illinois' innovation corridor. University of Illinois, tech startups, and a vibrant entrepreneurial ecosystem.
Champaign, together with twin city Urbana, forms the Champaign-Urbana metropolitan area, home to the University of Illinois at Urbana-Champaign. This world-class research university drives innovation, creates a steady flow of talent, and supports a thriving entrepreneurial ecosystem.
The local economy benefits from university research commercialization, a growing tech sector, healthcare services, and businesses serving the student population. Research Park and the broader innovation district have attracted tech companies and startups, creating unique opportunities for business owners.
| Metric | Value |
|---|---|
| Population | 88,302 |
| Metro Population (with Urbana) | 230,000+ |
| Total Businesses | 4,500+ |
| Average Business Sale Price | $285,000 |
| Median Time to Sell | 9 months |
| Top Industries | Technology, Healthcare, Restaurants, Retail, Professional Services |
| Region | East Central Illinois |
Champaign's university-driven economy creates unique opportunities for sellers:
Champaign offers unique opportunities for buyers seeking innovation-driven markets:
The University of Illinois is the dominant economic driver, providing 50,000+ students, thousands of employees, and significant research activity. Businesses benefit from this stable base but should understand seasonal patterns - summer and breaks see reduced student traffic.
Champaign has a thriving tech scene anchored by Research Park, which houses 120+ companies. University spinoffs, startups, and established tech companies create opportunities for tech-related businesses and services. The area has produced notable companies and attracts tech talent.
Champaign and Urbana function as one market, with the university campus spanning both cities. Champaign is larger with more commercial development, while Urbana has a more residential character. Most businesses serve the combined Champaign-Urbana market.
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