ILLINOIS · NAICS NAICS 445310, 445320
Illinois liquor store acquisitions turn on license value, goodwill, and trade-area demand, with state license transfer timing built into the closing schedule. Studies translate product mix, basket size, and competitive saturation into defensible projections, and the appraisal file resolves intangible value where the deal crosses the goodwill threshold.
FEASIBILITY TRIGGER
License and goodwill value above $250,000 of intangibles triggers the independent going-concern appraisal alongside any study, and Illinois license transfer timing enters the closing schedule.
From FY2010 through FY2026, Illinois recorded 317 SBA-disbursed liquor store loans across the 7(a) and 504 programs, representing $211.7 million in approved financing at an average loan size of $668,000. The state sits at rank #9 of 38 for liquor store SBA lending volume and holds 3.9% of the national liquor store dollar pool. 7(a) accounts for 96.8% of the count, 504 for the rest, with 51 fresh approvals dated FY2024 or later.
| Disbursed loans (FY2010–FY2026) | 317 |
| Approved volume | $211.7 million |
| Average loan size | $668,000 |
| 7(a) share | 96.8% |
| Approvals since FY2024 | 51 |
| State rank by loan count | #9 of 38 |
Among the 219 seasoned loans in this segment (approvals FY2010–FY2021), 6.4% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for liquor store is 4.4%, against 7.3% across all industries. That performance runs above the national benchmark for this asset class, which is a factor lenders weigh in their credit decision.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
A 6.4% adverse-resolution rate against the national liquor store benchmark of 4.4% tells credit committees to scrutinize revenue projections and coverage assumptions closely on Illinois deals in this class. A rigorous third-party feasibility study — built on documented demand, defensible pricing, and stressed coverage — carries meaningful weight in that underwriting conversation, particularly at an average loan size of $668,000 across 317 loans.
Every Illinois liquor stores project we underwrite follows the same lender ready process: independent market analysis, site and technical review, and financial projections tested against SBA SOP 50 10 8 standards. Our SBA feasibility study consultants guide explains scope, timing, deliverables, and what lenders and CDCs expect in the report.
Illinois projects often fit SBA 504 where owner-occupied real estate anchors the deal, with the 50/40/10 structure delivering up to 90 percent financing at a fixed debenture rate, while SBA 7(a) covers acquisitions, working capital, and equipment. From July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
State license transfer timing and dense urban trade areas shape the Illinois liquor store acquisition workflow.
For a national view of this asset class, see our liquor store SBA feasibility overview, and read our related analysis in the liquor store lending research on our blog.
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