1,200+
7,840
$71,060
0.66
Source: U.S. Bureau of Labor Statistics, May 2023 OEWS
Seventh largest HVAC metro with 7,840 technicians
Extreme temperature swings (-20°F to 100°F) drive year-round demand
High wages ($71,060) reflect union presence and skill requirements
Commercial high-rises require specialized HVAC expertise
Industrial sector provides stable maintenance contracts
Chicago's harsh winters and hot summers create balanced heating and cooling demand. The commercial sector, particularly downtown high-rises, requires specialized expertise. Union relationships affect labor costs but also provide skilled workforce.
Chicago HVAC companies attract buyers seeking Midwest market entry. Companies with commercial high-rise experience and union relationships are particularly valued. Typical valuations range 4.5-6x EBITDA.
Employment & Wage Data: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2024
Metropolitan Area Statistics: BLS Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates
EBITDA Multiples: Industry estimates based on publicly reported M&A transactions and market analysis. Actual valuations vary based on company-specific factors.