Walgreens on Main St. – Sold! *Updated*
Peoria Journal Star Real Estate Transactions:
1109 W. Main St., Peoria, Lullo Investments Inc. to Eldorado Partners, $1,385,000.
Eldorado Partners is an offshoot of Coldwell Banker Commercial Devonshire Realty and appears to build and maintain retail outlets and mini strip malls. It is owned by Tim Harrington and Tom Harrington Jr. who are based out of Champaign.
I’m guessing the building will be torn down. No word on what type of building will replace it, or what that building will contain, but here are a few developments created by Eldorado Partners to give you an idea of what might go there…
This is a development in Charleston, Il, as printed in the Charleston Journal Gazette:
Eldorado Partners of Champaign is seeking a variance in the city’s setback requirements for drive-in lanes at the Dunn’s site
[...]
Harrington said they plan to purchase the Dunn’s site, demolish the building there, and construct an approximately 5,000-square-foot “upscale†retail center. He said that center would offer two to three storefronts, including one with a drive-in lane.
And another, from the Lincoln Courier:
The Lincoln Starbucks was set to open in Childers Plaza, a small strip mall now under construction at Illinois Route 10’s intersection with Interstate 55.
[...]
Eldorado Partners was responsible for developing the other Starbucks’ sites in central Illinois.
Tenants at other locations developed by the Harringtons include Papa Murphy’s Take ’N Bake Pizza, H&R Block, Sprint and Super Cuts.
Getting excited yet?
Update from an anonymous email:
“Devonshire will rehab Walgreens and build 24 luxury apartments.”
April 27th, 2008 at 1:56 pm
As long as they do it with their own money, I’m not going to complain.
Several years ago, some magic bean salesmen came to town with a plan to have the city finance upscale townhouses/residential deveopment at the site.
April 27th, 2008 at 7:57 pm
I thought that was the Med-Tech District? I’m not against any private developer, using their own money, building what they want, but we as taxpayers payed a lot of money replacing sidewalks, moving utilities, and new street lamps (with hanging baskets no less). So I don’t want to see a Taco Bell (although that isn’t all bad) nor a Cash Store either. This will be interesting.
April 28th, 2008 at 9:24 am
Oho! Those tricksters may have removed the signs, but I can still tell it’s a Walgreens. If you think that’s impressive, you ought to see me with a Where’s Waldo book. ¬_¬
Mr. Anti-pundit, agreed. No more fricken Cash Stores.
April 28th, 2008 at 11:13 am
“Several years ago, some magic bean salesmen came to town with a plan to have the city finance upscale townhouses/residential deveopment at the site.”
And it appears something to that effect is going to be built. Sure beats a Super Cuts. I wonder how much they’re going to ask the city for?
April 29th, 2008 at 7:14 am
“upscale townhouses/residential development” Don’t like that idea Billy?
Is Billy missing King’s Park?
May 1st, 2008 at 9:16 pm
and so it goes… the former co-op tapes & records. For me it was always kind of scary as co-op was full of “old” dudes buying Kansas records and driving camaros with Rock 106 bumper stickers. Back in the days of the Prairie Sun music magazine and Corky Carroll’s “Surf’s up on the Illinois.” This was also the building was where I first bought my first punk rock records. I remember when one of the employees asked if my mom knew what I was listening to as I purchased the Circle Jerk’s “group sex” record and Black Flag’s “Everything went black” and so it goes… and so it goes..
May 25th, 2008 at 3:22 pm
According to an April 27th PJStar (print) article, THIS site w/the (former) Walgreen’s building will soon be developed into (24) four-bedroom, student housing, units close to Bradley University. The former Walgreen’s building will be renovated into a mixed-use retail structure with a new facade. A 3-story apartment building with underground parking will be constructed alongside or connected It.
These ” upscale ” apartments aren’t being marketed toward the general public, but toward prospective Bradley students interested in state-of-the -art, student, apartments close to campus as opposed to the neighboring (off-campus) houses currently rented. The developers said there isn’t a timetable to bring it before the City Council, but It’s anticipated for later This year with construction being completed at the earliest by Fall 2009.
The (proposed) developer will qualify for tax credits for the next 5 years under the existing TIF…. an enticement. Also, the developers the area’s New Urbanism vision with street-level retail and attractive facades. Unfortunately, the PJStar online version didn’t feature the April 27th article of this story w/rendering. But, It’s exciting AND very attractive!
Peoria’s ” Main Street ” is, gradually, transforming into an attractive and vibrant area when We consider ALL the projects such as the massive Bradley University Renaissance underway, the completed Innovation Center, the Illinois Medical Center, existing facade and sidewalk renovations, Etc. Let’s hope such momentum continues for the, emerging, Renaissance Park area!
May 25th, 2008 at 3:33 pm
CORRECTION….. The PJStar article was on MAY 21st not April 27th. Sorry about the mistake! I was looking at the wrong (monthly) calendar.
June 19th, 2008 at 5:21 pm
(UPDATE) It looks like the ” Main Street Commons ” project will occur, as an announcement billboard by the developer was recently erected in front of the (former) Walgreen’s building. It should be another gem for the Renaissance Park area!
July 2nd, 2008 at 12:27 pm
I remeber when there was an A&P grocery on this site. This closed in the early 1970’s I believe.
November 29th, 2008 at 8:08 pm
WOW! I remember that too, John? I was wondering if anyone else remembered that. Remember those, dreadful, green stamps the old chain handed out?