Your complete guide to business transactions in this prestigious North Shore community. Market insights, local regulations, and expert resources.
Lake Forest is one of the most affluent communities in Illinois, located on Chicago's North Shore in Lake County. With approximately 19,000 residents and among the highest household incomes in the state, Lake Forest offers exclusive business opportunities serving an exceptionally sophisticated and discerning clientele.
The city features a charming Market Square, one of the first planned shopping centers in America, along with corporate headquarters and professional offices. Lake Forest is home to several Fortune 500 companies and Lake Forest College. The economy is driven by professional services, luxury retail, fine dining, and wealth management services.
| Metric | Value |
|---|---|
| Population | 19,000 |
| Total Businesses | 1,500+ |
| Average Business Sale Price | $525,000 |
| Median Time to Sell | 6 months |
| Top Industries | Professional Services, Luxury Retail, Fine Dining, Healthcare, Wealth Management |
| Region | Lake County / North Shore |
Lake Forest's ultra-affluent market creates premium opportunities for business sellers. Here's what you need to know about selling in the Lake Forest market:
Lake Forest offers exclusive business opportunities in one of Illinois' most prestigious markets. Here's what buyers should know:
Legal, financial, and consulting services.
High-end boutiques and specialty shops.
Upscale restaurants and cafes.
Concierge medical and dental practices.
Private banking and investment services.
Luxury salons and spas.
Lake Forest offers access to one of Illinois' most affluent customer bases, historic Market Square, corporate headquarters, and the prestige of the North Shore's most exclusive address. Businesses can command premium pricing.
Market Square, built in 1916, is one of the first planned shopping centers in America. It features charming architecture and houses upscale retail, restaurants, and services. A Market Square location carries significant prestige and attracts affluent customers.
Luxury retail, fine dining, professional services, wealth management, and concierge healthcare are in demand. Businesses that cater to ultra-affluent tastes and provide exceptional service tend to thrive.
Given the higher business values in Lake Forest, conventional bank financing and private equity are common. SBA loans are available through Lake County lenders. Seller financing may be an option for qualified buyers.
Get expert guidance for your Lake Forest business transaction.