PEORIA, Ill. – The city of Peoria is looking to acquire property in the downtown area.
An agenda item on Tuesday’s meeting includes a resolution to purchase the Tower on Adams property for more than one-point-seven million dollars.
The purchase would include the PNC Bank Building, Creve Coeur Building, and the adjoining parking deck.
The purpose of the purchase would be to “promote the redevelopment of the parcels and stabilize real estate values in the downtown.”
According to council documents, the city plans to control the property in the short term.
Calls to the city by WMBD Radio for further comment were declined.
Comments