Your complete guide to business transactions in Vermilion County's seat. Market insights, local regulations, and expert resources.
Danville is the county seat of Vermilion County, located in east-central Illinois near the Indiana border. With approximately 30,000 residents, Danville serves as the commercial and healthcare hub for the surrounding region, offering affordable business opportunities.
The city has a rich industrial heritage and is working to diversify its economy. Major employers include OSF Sacred Heart Medical Center, Danville Area Community College, and various manufacturing companies. The city's location along I-74 provides access to both Champaign-Urbana and Indianapolis markets.
| Metric | Value |
|---|---|
| Population | 30,000 |
| Total Businesses | 1,100+ |
| Average Business Sale Price | $165,000 |
| Median Time to Sell | 10 months |
| Top Industries | Healthcare, Retail, Restaurants, Manufacturing, Professional Services |
| Region | Vermilion County / East Central Illinois |
Danville's role as a regional center creates opportunities for business sellers. Here's what you need to know about selling in the Danville market:
Danville offers affordable business opportunities with regional market access. Here's what buyers should know:
Medical practices serving the regional population.
Regional retail serving Vermilion County.
Dining options for locals and travelers.
Industrial operations and suppliers.
Accounting, legal, and business services.
Auto repair and service businesses.
Danville offers very affordable business opportunities, a regional customer base, less competition than metro areas, and a healthcare sector that drives related business demand. The city's revitalization efforts also create opportunities.
OSF Sacred Heart Medical Center is a major employer and draws patients from throughout the region. This creates opportunities for medical-related businesses, restaurants, hospitality, and services catering to healthcare workers and visitors.
Healthcare-related services, restaurants, retail, and professional services are in demand. Businesses serving the regional population and those supporting the healthcare sector tend to perform well.
Yes, SBA loans are available through regional lenders. Local community banks familiar with the Danville market often provide competitive terms. Seller financing is common given the smaller transaction sizes.
Get expert guidance for your Danville business transaction.