Chicagoland Asphalt Maintenance, 20-Year Cook County Contractor

$5.3M

Revenue

$2.5M

SDE

5.0x

Multiple

Subscribe Free

Read the full deal writeup

Get Free Access

Already a member? Sign in

Full Editorial Writeup

Great opportunity to purchase a very profitable well managed Asphalt Maintenance company. The company is located near the Cook County Area and within the Chicagoland area. For over 20 years this... Businesses Franchises Brokers Loading... Opportunity to purchase a very profitable asphalt maintenance co. Cook County, IL Asking Price:$12,500,000 Cash Flow (SDE):$2,500,000 EBITDA:Not Disclosed Gross Revenue:$5,270,000 Established:2000 Opportunity to purchase a very profitable asphalt maintenance co. Business Description Great opportunity to expand your asphalt maintenance business. Great opportunity to purchase a very profitable well managed Asphalt Maintenance company. The company is located near the Cook County Area and within the Chicagoland area. For over 20 years this family-owned company has been providing high-quality asphalt maintenance services to its customers. Services provided: Full-Service Asphalt Maintenance Asphalt Paving & Repair Sealcoating Hot Pour Crack Filling Line Striping & Traffic Markings Catch Basin / Sewer Installation, Repair & Drainage Highlights: Business Mix & Average Job Size Repeat vs. new clients: ~80% repeat / 20% new annually Commercial vs. residential: ~90% commercial / 10% residential Commercial breakdown ~70% property mgmt. / HOA, ~20% municipal, ~10% private Average job size (revenue) $12,952 Note: 80% repeat business concentrated in property/HOA management is provides consistent recurring revenue. The company has over a dozen hard working skilled workers with low turnover. The company has key employees that assist ownership at a high level. Ownership is willing to stay on to assist in the transition. Ownership may be willing to stay on full time after the transition depending on the need and situation. Current lease for office space and outdoor space. Reasonable lease rate at under $3,000 per month. This gives the new owner with sufficient office space and indoor and outdoor storage. With revenues over $5 million and an SDE consistently above $2 million. This is a great opportunity for someone looking to expand a current operation, diversifying a current construction or maintenance company that has no exposure to the asphalt industry, or for someone looking to exit Corporate America. Based on the consistent SDE, absentee ownership possibility, strong management, strong repeat revenue, mostly commercial clients, very limited to no marketing needed, this is a great opportunity for the new buyer. Owners are open to seller financing for up to 10% of the selling price depending on the offer and subject to ownership approval. The firm keeps all equipment and vehicles in good condition. The current equipment in place will give the new owners an opportunity to support future growth of 10 to 25 % without the need to purchase additional equipment. Ad#:2535646 Detailed Information Employees: 16 Full-time Facilities: Very reasonable lease rate with office and warehouse space. Large amount of outdoor area for storing larger equipment. Competition: Asphalt and sealing business have multiple competitors in the market. This company has a strong reputation for quality. Chicagoland Area has huge, deferred maintenance needs regarding Asphalt repair and maintenance. Growth & Expansion: Company has room for growth. Current demand is very strong. Adding additional business line. Financing: Seller financing available Typically limited to 10% of purchase price and subject to owner approval. Support & Training: Owners are willing to stay on during the transition or longer depending on the situation and needs of the buyer. Reason for Selling: retirement Business Location Location: Cook County, IL Real Estate: Leased Lease Expiration: 12/31/2027 Financial Benchmarks for Illinois Other Building and Construction Businesses Gross Revenue Benchmarks Cash Flow (SDE) Benchmarks EBITDA Benchmarks BizBuySell EDGE Demographic Information for Cook County Area Household Income Population Age Population Trend Population by Race/Ethnicity BizBuySell EDGE Listing Statistics Saved This Listing Listing Last Updated Appeared in Search Listing Detail Views BizBuySell EDGE Know the True Market Value Before You Make an Offer Get valuation data to negotiate with confidence. Get a Valuation Report Business Listed By: George Gianares Timio Consulting View My Listings Phone Number 815-676-5743 Voice only (no SMS) Ad#:2535646 The information in this listing has been provided by the business seller or representative stated above. BizBuySell has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness. Read BizBuySell's Terms of Use before responding to any ad. Learn how to avoid scams. Contact Form Full Name* Enter a valid Full Name Phone Number Enter Phone Number Email Address* Enter Email Address Optional Message Yes, send me the Buyer Newsletter for popular businesses, tips, & email promotions. Send Message By clicking the button, you agree to BizBuySell’s Terms of Use and Privacy Notice Business Listed By: George Gianares Timio Consulting View My Listings Phone Number 815-676-5743 Voice only (no SMS) Your request has been sent. What Happens Next? is reviewing your details. A representative will reach out soon to discuss your options. Expect a response in 1-2 business days. Report an issue with this listing Similar Listings Other Building and Construction Businesses for Sale Other Service Businesses for Sale All Businesses for Sale in Cook County Profitable $1M+ Underground Irrigation Union Shop Cook County, IL Asking: $575,000 Established Healthcare Network | 200+ Physicians | Risk-Based Medicaid Chicago Heights, IL Asking: $25,000,000 High-Growth Solar Contractor | Turnkey Model + Subcontractor IL Asking: $1,200,000 PlumbingPro Franchise Opportunity In IL Cash Required: $100,000 Â©2026 CoStar Group Send Message Listing Shared via Email a6301374279843840.cdn.optimizely.com a6301374279843840.cdn.optimizely.com is blocked This page has been blocked by an extension Try disabling your extensions. ERR_BLOCKED_BY_CLIENT Reload This page has been blocked by an extension Buy a Business Search for a Business Established Businesses Asset Sales How to Buy a Business Buy a Franchise Search Franchises For Sale Low Cost Franchises Restaurant and Food Franchises Business Opportunities Retail Franchises Sell a Business Sell a Business on BizBuySell Sell Multiple Businesses How to Sell a Business Value a Business Find a Broker Tools & Advice Learning Center Finance Center Market Insights Financial Benchmarks Business for Sale Blog Business Brokers Find a Broker For Brokers My BizBuySell Dashboard My Business Selling My Listings Guide to Selling Add a New Listing Searching My Saved Listings My Saved Searches Franchise Recommendations BizBuySell Edge Edge Preferences Recommendations Industry Benchmarks Location Insights BizBuySell Edge Edge Preferences Recommendations Industry Benchmarks Location Insights Research Guide to Buying Reports Message Center My Mailbox My Inquiries Email Preferences Export Leads Account Account Settings My Billing Info BrokerWorks My BizBuySell Dashboard Leads Billing My Saved Listings My Saved Searches Account Sign Out Sign In reCAPTCHA Recaptcha requires verification. protected by reCAPTCHA

Why we like it

Earnings quality is genuinely strong for the category, with $2.5M SDE on $5.27M revenue, which is roughly a 47% owner-earnings margin. That kind of margin on a services book usually signals real pricing power and disciplined job costing rather than one-time windfalls, and the listing describes SDE as consistently above $2M across years.
The moat here is the client book, not the equipment. About 80% of work is repeat and 70% of the commercial base is property management and HOA accounts, which are sticky, contract-adjacent relationships that reorder sealcoating and crack filling on a predictable cycle. Winning these accounts takes years of reliable performance, so an incoming competitor cannot simply undercut on price.
The market tailwind is durable and geographic. Chicagoland has huge deferred asphalt maintenance needs and a brutal freeze-thaw climate that guarantees recurring pavement degradation, so demand does not evaporate in a downturn the way discretionary spend does. Property managers and municipalities defer, but eventually must fix, which pulls forward future work.
The operator advantage is a functioning management layer plus low marketing dependence. Key employees already run at a high level, turnover is low, and the seller notes very limited to no marketing is required to keep the pipeline full. That means a buyer inherits a machine, not a job, and can focus capital on adding service lines or geographic density.

How to improve it

Convert the 80% repeat relationships into written annual maintenance agreements with scheduled sealcoating and striping cycles. Formalizing recurring revenue de-risks the book, improves forecasting, and directly raises enterprise value at the next sale by making cash flow contractually visible rather than merely habitual.
Push into the underweighted municipal and private segments. Municipal is only 20% of commercial and private is 10%, yet Chicagoland has deep public deferred maintenance budgets and prevailing-wage work, so a dedicated bid function targeting government contracts could add a materially different, recession-insulated revenue stream.
Use the stated 10 to 25% equipment headroom to run a second crew and extend the season. The assets already exist, so the incremental cost is labor and scheduling, which is the fastest path to growing SDE without a capital raise. Track utilization per truck to find the true ceiling.
Install job-level costing and CRM discipline if not already present. With an average job of roughly $13,000 across hundreds of jobs, small margin leaks compound fast, and tracking gross margin by service line will reveal which of paving, sealcoating, striping, or drainage to lean into.
Build a light outbound engine targeting new property management portfolios. Marketing is described as minimal today, which is a strength for stability but a missed lever for growth, so even one dedicated account rep calling on regional PM firms could expand the recurring base meaningfully.
Lock in and extend the lease before close. The current lease expires 12/31/2027 at under $3,000 per month, which is cheap, so securing a long renewal or option protects the low-cost footprint and removes a relocation risk that could disrupt equipment storage and crew logistics.

Diligence notes

Verify the SDE build and owner add-backs against tax returns for three years. The listing leans on absentee-ownership possibility and consistent SDE above $2M, but at a 5x asking price you need to confirm how much of that $2.5M depends on the departing owner's roles and whether a replacement manager salary must be subtracted.
Stress test client concentration inside the 70% property management and HOA bucket. Eighty percent repeat is attractive only if it is spread across many accounts, so pull a customer-level revenue schedule to confirm no single PM firm or a few HOAs represent an outsized share that could walk with a relationship.
Inspect equipment condition, age, and remaining useful life. The pitch that current assets support 10 to 25% growth with no new purchases is a value driver, so an independent equipment appraisal and maintenance-log review will confirm whether near-term capex is truly deferred or lurking.
Confirm labor availability, wage rates, and any prevailing-wage or union exposure. Sixteen full-time employees with low turnover is a stated asset, but validate crew retention plans post-close, check whether municipal work triggers prevailing wage, and assess how tight the local skilled-labor market is for expansion.
Reconcile revenue seasonality and working capital needs. Asphalt work in Chicagoland is weather-bound, so map monthly revenue and receivables to understand cash flow troughs in winter and ensure the deal structure and any seller note (up to 10%) accommodate the seasonal working capital swing.

Source

Originally listed on BizBuySell. View original listing →