PEORIA, Ill. – Three companies have submitted bids to redevelop the P-N-C Bank building in downtown Peoria.
City Manager Patrick Urich tells “The Phil Luciano Show” the companies are Baldovin from Peoria, Urban Equity Properties of Rockford, and J. Jeffers and Company of Milwaukee.
“We’re excited that we’ve got some options to explore, and to review, and looking forward to doing the due diligence on it,” Urich said.
Urich says a recommendation to the City Council will come at a later date. He anticipates construction to take around two years, but that timeline could be affected by tenants currently in the building.
The city acquired the PNC Bank building, along with the former Creve Coeur Club and adjoining parking deck, from Cullinan Properties for around $1.8 million.
Comments