Sec Form 4 Filing - SPECTRUM EQUITY INVESTORS IV LP @ Consolidated Communications Illinois Holdings, Inc. - 2005-07-27

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person SPECTRUM EQUITY INVESTORS IV LP 2. Issuer Name and Ticker or Trading Symbol Consolidated Communications Illinois Holdings, Inc. [ CNSL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) ONE INTERNATIONAL PLACE, SUITE 29TH FLOOR 3. Date of Earliest Transaction (MM/DD/YY) 07/27/2005 (Street) BOSTON, MA02110 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock, par value $0.01 per share 07/27/2005 S( 1 ) 5,805,504 D $ 13 1,009,241 D Common Stock, par value $0.01 per share 07/27/2005 S( 1 ) 638,940 D $ 13 111,076 ( 2 ) ( 3 ) ( 4 ) I See Footnotes

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other SPECTRUM EQUITY INVESTORS IV LP ONE INTERNATIONAL PLACE SUITE 29TH FLOOR BOSTON, MA02110 X X MARONI KEVIN J ONE INTERNATIONAL PLACE SUITE 29TH FLOOR BOSTON, MA02110 X SEI III ENTREPRENEURS FUND L P ONE INTERNATIONAL PLACE SUITE 29TH FLOOR BOSTON, MA02110 X SEI III Entrepreneurs LLC ONE INTERNATIONAL PLACE SUITE 29TH FLOOR BOSTON, MA02110 X Spectrum Equity Associates III L P ONE INTERNATIONAL PLACE SUITE 29TH FLOOR BOSTON, MA02110 X Spectrum Equity Associates IV L P ONE INTERNATIONAL PLACE SUITE 29TH FLOOR BOSTON, MA02110 X SPECTRUM EQUITY INVESTORS III L P ONE INTERNATIONAL PLACE SUITE 29TH FLOOR BOSTON, MA02110 X SPECTRUM EQUITY INVESTORS PARALLEL IV LP ONE INTERNATIONAL PLACE SUITE 29TH FLOOR BOSTON, MA02110 X SPECTRUM III INVESTMENT MANAGERS FUND LP ONE INTERNATIONAL PLACE SUITE 29TH FLOOR BOSTON, MA02110 X Spectrum IV Investment Managers Fund, L.P. ONE INTERNATIONAL PLACE SUITE 29TH FLOOR BOSTON, MA02110 X Signatures James N. Pepin, by Power of Attorney 07/27/2005 Signature of Reporting Person Date James N. Pepin, Power of Attorney 07/27/2005 Signature of Reporting Person Date James N. Pepin, Power of Attorney 07/27/2005 Signature of Reporting Person Date James N. Pepin, Power of Attorney 07/27/2005 Signature of Reporting Person Date James N. Pepin, Power of Attorney 07/27/2005 Signature of Reporting Person Date James N. Pepin, Power of Attorney 07/27/2005 Signature of Reporting Person Date James N. Pepin, Power of Attorney 07/27/2005 Signature of Reporting Person Date James N. Pepin, Power of Attorney 07/27/2005 Signature of Reporting Person Date James N. Pepin, Power of Attorney 07/27/2005 Signature of Reporting Person Date James N. Pepin, Power of Attorney 07/27/2005 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Shares sold in issuer's initial public offering (which closed on July 27, 2005) pursuant to the issuer's registration statement on Form S-1 (333-121086). ( 2 )Of the shares held by the reporting persons following reported transactions, 1,009,241 shares of common stock are held by Spectrum Equity Investors IV, L.P. ("SEI4"); 12,019 shares of common stock are held by Spectrum IV Investment Managers' Fund, L.P. ("SIM4"); 5,958 shares of common stock are held by Spectrum Equity Investors Parallel IV, L.P. ("SEIP4"); 89,374 shares of common stock are held by Spectrum Equity Investors III, L.P. ("SEI3"); 2,793 shares of common stock are held by SEI III Entrepreneurs' Fund L.P. ("SEI3E") and 931 shares of common stock are held by Spectrum III Investment Managers' Fund L.P. ("SIM3"). Spectrum Equity Associates IV, L.P. ("SEA4") is the sole general partner of SEI4 and SEIP4. Spectrum Equity Associates III, L.P. ("SEA3") is the sole general partner of SEI3. SEI III Entrepreneurs' LLC ("SEI3LLC") is the sole general partner of SEI3E. Because these funds ultimately are under common management that shares the power to direct the (Cont. in Footnote #3) ( 3 )voting and disposition of the shares, each of these entities may be deemed to share beneficial ownership of the shares owned by the others. Each of these entities disclaims this beneficial ownership of these shares, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purpose of Section 16 or for any other purpose, except to the extent of its pecuniary interest therein. Because decisions by each of the entities serving as the ultimate general partners of the individual funds in question are made by majority vote of either four or seven partners or members, as the case may be, no individual partner of SEA4, SIM4, SEA3 or SIM3, and no individual member of SEI3LLC, has the power alone to direct the voting or disposition of the shares, and no such individual has the power to prevent the voting or disposition of such shares over his objection. ( 4 )Kevin J. Maroni resigned as a director of the issuer effective July 27, 2005. He is a general partner or managing member of, and holds a miniority interest in, the funds of Spectrum Equity Investors IV, L.P. and its affiliates ("Spectrum Equity") that own shares of the issuer's common stock. As a result, Mr. Maroni may be deemed to share beneficial ownership of the shares of common stock owned by Spectrum Equity. Mr. Maroni disclaims beneficial ownership of such shares, and this report shall not be deemed an admission that Mr. Maroni is the beneficial owner of the securities for purpose of Section 16 or for any other purpose, except to the extent of his pecuniary interest therein. Mr. Maroni beneficially owns no shares directly.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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