Please discuss this with the police in the location where the conduct took place. DP NOT discuss it online or with anyone else. Your grandson's privacy and dignity are important. You did a very good thing to get the OP. If you do not have an attorney, you might wish to consult with one to determine what other options (such as restricted to no visitation,) you may have.
Go to the police IMMEDIATELY. Do not dicuss this matter online since it involves a child.
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Yes. Illinois does have a statute of limitations for the bringing of criminal charges. Because what you have alluded to is physical abuse of a child (as opposed to sexual abuse), which would be a felony offense (a separate offense for each specific incident), the time limit is three years.
This answer is provided for informational purposes only and does not create an attorney-client relationship. Follow-up with a licensed attorney who regularly practices in this field is strongly recommended.