Your complete guide to business transactions in this affluent North Shore community. Market insights, local regulations, and expert resources.
Highland Park is an affluent city on Chicago's North Shore in Lake County. With approximately 30,000 residents and high household incomes, Highland Park offers premium business opportunities serving a sophisticated, discerning customer base. The city is known for its charming downtown, cultural attractions, and lakefront location.
The city features a vibrant downtown district with upscale retail, restaurants, and professional services. Highland Park is home to Ravinia Festival, the oldest outdoor music festival in North America, which draws visitors throughout the summer. The economy is driven by professional services, specialty retail, fine dining, and healthcare.
| Metric | Value |
|---|---|
| Population | 30,000 |
| Total Businesses | 1,800+ |
| Average Business Sale Price | $425,000 |
| Median Time to Sell | 7 months |
| Top Industries | Professional Services, Restaurants, Retail, Healthcare, Personal Services |
| Region | Lake County / North Shore |
Highland Park's affluent market and strong downtown create premium opportunities for business sellers. Here's what you need to know about selling in the Highland Park market:
Highland Park offers premium business opportunities in an affluent North Shore market. Here's what buyers should know:
Legal, financial, and consulting services.
Upscale restaurants and cafes.
Boutiques and specialty shops.
Medical and dental practices.
Upscale salons and spas.
Gyms, yoga studios, and wellness centers.
Highland Park offers access to an affluent customer base, a vibrant downtown district, cultural attractions like Ravinia Festival, and the prestige of a North Shore location. Businesses can command premium pricing in this market.
Ravinia Festival brings significant seasonal traffic to Highland Park during summer months. Restaurants, retail shops, and service businesses near the festival grounds often see substantial revenue increases during the concert season.
Upscale restaurants, specialty retail, professional services, healthcare practices, and personal services are in demand. Businesses that cater to affluent tastes and provide premium experiences tend to perform well.
Yes, SBA loans are available through Lake County lenders. Given the higher business values in Highland Park, conventional bank financing is also common. Private equity and seller financing may be options for larger transactions.
Get expert guidance for your Highland Park business transaction.