Food trucks in Illinois are typically valued at 1.5x to 2.5x SDE plus the appraised value of the truck and equipment. The business value (customer base, social media following, event contracts, catering relationships) is layered on top of the hard asset value of the vehicle.
Recurring Revenue vs. Retail Traffic
Food trucks with recurring revenue streams — corporate lunch accounts, weekly market appearances, festival contracts, catering agreements — are worth more than those relying entirely on retail street traffic. Corporate and event catering contracts that transfer to a new owner are the most valuable component of any food truck business.
Vehicle and Equipment Condition
The truck itself is a major asset. A newer, well-maintained custom build with commercial-grade kitchen equipment is worth $80,000–$150,000 alone. Buyers will evaluate vehicle mechanical condition, generator capacity, equipment age, and health department inspection records. Deferred maintenance or an aging generator can significantly affect negotiated price.
Illinois food truck businesses require Chicago Department of Public Health licensing (for Chicago-based operations), county health permits, and vehicle registration. All permits must be addressed in the transfer process — this is often the most complex part of a food truck sale.