Teekona Group
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(615) 965-4211

East Peoria, IL

This 2-acre property located in East Peoria, Illinois is the last river front property in the Levee district. We are proposing a development that will consist of 142 fair market apartment units and a 15,000 sq ft commercial space. We expect this project to complement the current development of the City of East Peoria Levee District by introducing fair market apartments in a self contained urban design, where tenants will be in close proximity to entertainment, recreation, dining, shopping and employment.

East Peoria, IL
East Peoria, IL
East Peoria, IL
East Peoria, IL
East Peoria, IL
East Peoria, IL
East Peoria, IL
East Peoria, IL

Teekona Group, Inc., acting as the master development company, shall oversee the development of this project over the next two years with the expectation of including other partners who will purchase/ lease and develop smaller portions of the master plan. Teekona Group will ask for options on future designs for value engineering, sustainability, as well as rooftop amenities.
Located in the community of East Peoria which features a strong economy, offers close proximity to all needs, recreational amenities and has a pro development municipality. This project is well positioned to take advantage of the need for residential apartments.
 
Commercial and residential vacancy rates in this market are currently 9% and 4% respectively. These rates are expected to fall significantly over the next 2 years. The only apartments that are “comparable” to this project is in Peoria, and they are not new construction. Teekona Group, Inc. has acquired a market demand study that estimates the demand for a total of 543-822 market rate rental units.

Teekona Group

Assisting in all developmental aspects of senior living, assisted living, memory care facilities, multi family living spaces, and retail projects.

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  • (615) 965-4211
  • info@teekonagroup.com
  • BOX 2890
    East Peoria, IL 61611