PEORIA, Ill. – The City of Peoria is looking for proposals from developers seeking to breathe new life into a historic downtown building.
The City began accepting applications April 30 from prospective developers for the PNC Bank building on Adams Street. The applications also include developing the former Creve Coeur Club building and the adjoining parking deck.
The city purchased the buildings for $1.75 million in 2023.
“That building has been the home of PNC Bank, but other office tenants have utilized that space, so we’re looking for a type of developer with that level of large-scale, commercial experience,” Assistant City Manager Kimberly Richardson told 25 News.
Richardson said the city would like to see the space redeveloped into mixed-use residential and commercial space.
“We want this to be a part of a bigger narrative around our connecting neighborhoods. This is part of the City Council’s goal, as part of a strategic plan. How do we revitalize our downtown?”
The are also criteria city leaders are using to score proposals:
Experience and qualifications (25%)
Financial capacity (15%)
Development capacity (20%)
Financial feasibility (15%)
Minority and women-owned business participation (20%)
Quality of references (5%)
Richardson said, so far, 12 developers have looked at the building since it opened.
The city is accepting proposals through July 24 with the hope of seeing a project begin sometime in 2026.
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